Journal
Oct. 2 | Cash | 2,930 | |
Bad debt expense | 5,680 | ||
Accounts receivable | 8,610 | ||
Dec. 20 | Accounts receivable | 5,680 | |
Bad debt expense | 5,680 | ||
Dec. 20 | Cash | 5,680 | |
Accounts receivable | 5,680 |
Kindly give a positive rating if you are satisfied with the answer. Feel free to ask if you have any doubt. Thanks.
direct write of method Ch 9-2 Practice Exercises Direct Write-Off Method Journalize the following transactions, using...
Direct Write-Off Method Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables Oct. 2: Received $2,210 from Matthew Chapman and wrote off the remainder owed of $2,560 as uncollectible. If an amount box does not require an entry, le it blank. Oct. 2 Dec. 20: Reinstated the account of Matthew Chapman and received $2,560 cash in full payment. Dec. 20-Reinstate Dec
allowance method Allowance Method Journalize the following transactions, using the allowance method of accounting for uncollectible receivables Oct. 2. Received $2,940 from lan Kearns and wrote off the remainder owed of $7,200 as uncollectible. If an amount box does not require an entry, leave it blank. Oct. 2 - Dec. 20. Restated the account of lan Kearns and received 57,200 cash in full payment. Restate Collection
Allowance Method Journalize the following transactions, using the allowance method of accounting for uncollectible receivables: Oct. 2. Received $2,690 from Keith MacPhearson and wrote off the remainder owed of $4,410 as uncollectible. If an amount box does not require an entry, leave it blank. Oct. 2 Dec. 20. Reinstated the account of Keith MacPhearson and received $4,410 cash in full payment. Reinstate Collection -
Entries for Uncollectible Accounts, using Direct Write-Off Method Journalize the following transactions in the accounts of Canyon River Medical Co., a medical equipment company that uses the direct write-off method of accounting for uncollectible receivables: Jan. 19 Sold merchandise on account to Dr. Kyle Norby, $6,400. The cost of goods sold was $3,000. June 2 Received $500 from Dr. Kyle Norby and wrote off the remai nder owed on the sale of January 19 as uncollectible. Oct. 23 Reinstated the...
Entries for Uncollectible Accounts, using Direct Write-Off Method Journalize the following transactions in the accounts of Champion Medical Co., a medical equipment company that uses the direct write-off method of accounting for uncollectible receivables: July 7. Jan. "Sold merchandise on account to Dr. Dale Van Dyken, $60,300. The cost of the merchandise sold was $32,600. 19. Received $15,100 from Dr. Dale Van Dyken and wrote off the remainder owed on the sale of January 19 as uncollectible. Nov. Reinstated the...
Entries for Uncollectible Accounts, using Direct Write-Off Method Journalize the following transactions in the accounts of Cecena Medical Co., a medical equipment company that uses the direct write-off method of accounting for uncollectible receivables. Feb. 13. Sold merchandise on account to Dr. Ben Katz, $59,400. The cost of the merchandise sold was $32,100. May 4. Received $11,900 from Dr. Ben Katz and wrote off the remainder owed on the sale of February 13 as uncollectible. Nov. 19. Reinstated the account...
Direct Write-Off Method Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables. Mar. 17: Received $2,630 from Matthew Chapman and wrote off the remainder owed of $4,790 as uncollectible. If an amount box does not require an entry, leave it blank. Mar. 17 Cash Bad Debt Expense Accounts Receivable-Matthew Chapman Feedback July 29: Reinstated the account of Matthew Chapman and received $4,790 cash in full payment. July 29 Accounts Receivable-Matthew Chapman Bad Debt Expense July...
Test 2 Calculator Journalize the following transactions using the direct write-off method of accounting for uncollectible receivables. April 1 Sold merchandise on account to Jim Dobbs, $7,500. The cost of goods sold is $5,000. June 10 Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder. oct. 11 Reinstated the account of Jim Dobbs and received cash in full payment. If an amount box does not require an entry, leave it blank. April 1 April...
Entries for Uncollectible Receivables, using Allowance Method Journalize the following transactions in the accounts of Zippy Interiors Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables: May 24 Sold merchandise on account to Old Town Cafe, $16,300. The cost of goods sold was $11,700, Sept. 30 Received $3,700 from Old Town Cafe and wrote off the remainder owed on the sale of May 24 as uncollectible. Dec. 7 Reinstated the account of Old Town...
Example Exercise 9-2 Allowance Method Journalize the following transactions using the allowance method of accounting for uncollectible receivables July 9 Received $1,200 from Jay Burke and wrote off the remainder owed of $3,900 as uncollectible. Oct. 11 Reinstated the account of Jay Burke and received $3,900 cash in full payment. 9-28