Accounts Receivable, Notes Receivable Beginning Balance in Accounts Receivable: $15,000 Beginning Balance in Allowance for Uncollectible...

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Accounts Receivable, Notes Receivable Beginning Balance in Accounts Receivable: $15,000 Beginning Balance in Allowance for Un

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Answer 1

Answer #1

Note : T account and Journal Entries as per the Numbers in the questions

Allowance of Uncollectable accounts
Allowance of Uncollectable accounts
		120
		1,500	1
2	270

		50	7
12	500
13	900
		441.5	14



	Total	441.5


Account Recievable
Account Recievable
	15,000

		270	2
3	1000
		5000	4
5	3000
		900	6

		1000	8
		3000	10
11	900
12	500	500	12
		900	13

	Total	8,830

	Journal entry
		Dr	Cr
1	Bad Debt Expense	1500
	Allowance for uncollectable		1500
2	Account Receivable		270
	Allowance for Uncollectable	270
3	Account Receivable	1000
	Archies Audit Adjustment		1000
4	Notes Receivable	5000
	Accounts receivable		5000
5	Notes Receivables		3000
	Accounts Receivables	3000
6	Cash	900
	Accounts Receivables		900
7	Cash	50
	Accounts Receivables		50
8	Cash	500
	Notes Receivable	500
	Accounts receivable		1000

9	interest Earned		44.80
	Interest Receivables	44.80

10	cash	3000
	Accounts receivables		3000
11	Cash		900
	Accounts receivables	900
12	Notes receivables		500
	Allowance for uncollectable	500
13	Accounts receivables		900
	Allowance for uncollectable	900
14	Bad Debt Expense		441.5
	Allowance for uncollectable	441.5

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Answer 2

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