Question

6. Prepare the following JE's:
	1-Oct		Sale on account of $9,781
	3-Oct		Sale on account of $2,735; collection of $6,000 from previous sale
	5-Oct		Sale of $1,278 for cash; collection of $1,987 from previous sale
	6-Oct		Determined customer owing $3,000 is bankrupt
	12-Oct		Collected $434 from previous sale
	15-Oct		Sale on account of $6,238; collect $2,000 from previous sale
	20-Oct		Determined bankrupt customer is able to pay $1,000
	24-Oct		Collected $1,500 on previous sale
	27-Oct		Sale of $1,200 on account; collect $634 from previous sale

Answer 1

Solution:

Journal Entries
S.No	Particulars	Debit	Credit
01-Oct	Accounts Receivable Dr	$9,781
	To Sales Revenue		$9,781
03-Oct	Accounts Receivable Dr	$2,735
	To Sales Revenue		$2,735
03-Oct	Cash Dr	$6,000
	To Accounts Receivable		$6,000
05-Oct	Accounts Receivable Dr	$1,278
	To Sales Revenue		$1,278
05-Oct	Cash Dr	$1,987
	To Accounts Receivable		$1,987
06-Oct	Bad debt Expesne Dr	$3,000
	To Accounts Receivable		$3,000
12-Oct	Cash Dr	$434
	To Accounts Receivable		$434
15-Oct	Accounts Receivable Dr	$6,238
	To Sales Revenue		$6,238
15-Oct	Cash Dr	$2,000
	To Accounts Receivable		$2,000
20-Oct	Accounts Receivable Dr	$1,000
	To Bad debt expense		$1,000
	Cash Dr	$1,000
	To Accounts Receivable		$1,000
24-Oct	Cash Dr	$1,500
	To Accounts Receivable		$1,500
27-Oct	Accounts Receivable Dr	$1,200
	To Sales Revenue		$1,200
27-Oct	Cash Dr	$634
	To Accounts Receivable		$634