Homework Answers
Answer 1.
| Date | Accounts Titles & Explanation | Debit | Credit |
|---|---|---|---|
| Aug-18 | Accounts Receivable | 122,000 | |
| Cash | 11,300 | ||
| Sales Revenue | 133,300 | ||
| (To record sales) | |||
| Aug-18 | Cash | 106,400 | |
| Accounts Receivable | 106,400 | ||
| (To record collection on account) | |||
| Aug-18 | Bad Debts Expense | 990 | |
| Accounts Receivable | 990 | ||
| (To record write off uncollectible receivables) | |||
| Aug-18 | Accounts Receivable | 800 | |
| Bad Debts Expense | 800 | ||
| (To record reinstated previously write off receivables) | |||
| Aug-18 | Cash | 800 | |
| Accounts Receivable | 800 | ||
| (To record collection on account) |
Answer 2.
| Date | Accounts Titles & Explanation | Debit | Credit |
|---|---|---|---|
| Aug-18 | Accounts Receivable | 122,000 | |
| Cash | 11,300 | ||
| Sales Revenue | 133,300 | ||
| (To record sales) | |||
| Aug-18 | Cash | 106,400 | |
| Accounts Receivable | 106,400 | ||
| (To record collection on account) | |||
| Aug-18 | Allowance for Bad Debts | 990 | |
| Accounts Receivable | 990 | ||
| (To record write off uncollectible receivables) | |||
| Aug-18 | Accounts Receivable | 800 | |
| Allowance for Bad Debts | 800 | ||
| (To record reinstated previously write off receivables) | |||
| Aug-18 | Cash | 800 | |
| Accounts Receivable | 800 | ||
| (To record collection on account) |
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