Homework Answers
| Journal entries | ||||||
| S.no. | Accounts title and explanations | Debit $ | Credit $ | |||
| Mar-13 | Allowance for Uncollectible account | 3,100 | ||||
| Accounts receivable | 3,100 | |||||
| (for amount written off) | ||||||
| Jun-03 | Accounts receivable | 3,100 | ||||
| Allowance for uncollectible account | 3,100 | |||||
| (for amount reinstated) | ||||||
| Jun-03 | Cash account | 3100 | ||||
| Accounts receivable | 3100 | |||||
| (for amount received) | ||||||
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Help Sav 11 On March 13, a company writes off a customer's account of $3100. On...
On March 13, a company writes off a customer's account of $3,100. On June 3, the...
On March 13, a company writes off a customer's account of $3,100. On June 3, the customer unexpectedly pays the $3,100 balance. Using the allowance method, record the write-off on March 13 and the cash collection on June 3. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Dexter Company uses the direct write-off method. March 11 Dexter determines that it cannot collect $9,100...
Dexter Company uses the direct write-off method. March 11 Dexter determines that it cannot collect $9,100 of its accounts receivable from Leer Co. 29 Leer Co. unexpectedly pays its account in full1 to Dexter Company. Dexter records its recovery of this bad debt. Prepare journal entries to record the above transactions. View transaction list Journal entry worksheet 1 2 Record write off of Leer Co. account. Note: Enter debits before credits Date General Journal Debit Credit March 11 Record entry...
Dexter Company applies the direct write-off method in accounting for uncollectible accounts March 11 Dexter deter...
Dexter Company applies the direct write-off method in accounting for uncollectible accounts March 11 Dexter determines that it cannot collect 59,200 of its accounts receivable from its customer Leer Company. 29 Leer Company unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt. Prepare journal entries to record the above selected transactions of Dexter. View transaction list Journal entry worksheet 2 3 Record write off of Leer Company account. Note: Enter debits before...
Dexter Company applies the direct write-off method in accounting for uncollectible accounts. March 11 Dexter determines...
Dexter Company applies the direct write-off method in accounting for uncollectible accounts. March 11 Dexter determines that it cannot collect $9,800 of its accounts receivable from its customer Leer Company. 29 Leer Company unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt Prepare journal entries to record the above selected transactions of Dexter. View transaction list Journal entry worksheet 1 2 3 Record write off of Leer Company account Note: Enter debits...
Dexter Company uses the direct write-off method. March 11 Dexter determines that it cannot collect $9,800...
Dexter Company uses the direct write-off method. March 11 Dexter determines that it cannot collect $9,800 of its accounts receivable from Leer Co. 29 Leer Co. unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt. 1.42 points Prepare journal entries to record the above transactions. View transaction list eBook Journal entry worksheet Hint Print Record write off of Leer Co. account. Note: Enter debits before credits. General Journal Debit Credit Date March...
Dexter Company applies the direct write-off method in accounting for uncollectible accounts. March 11 Dexter determines...
Dexter Company applies the direct write-off method in accounting for uncollectible accounts. March 11 Dexter determines that it cannot collect $8,600 of its accounts receivable from its customer Leer Company. 29 Leer Company unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt. Prepare journal entries to record the above selected transactions of Dexter View transaction list Journal entry worksheet < 1 2 3 Record write off of Leer Company account. Note: Enter...
Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off...
Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off an $1,500 account of a customer, C. Green. On March 9, it receives a $1,000 payment from Green. 1. Prepare the journal entry for January 31 2. Prepare the journal entries for March 9; assume no additional money is expected from Green. View transaction list View transaction list Journal entry worksheet 1 2 3 Record the write-off of Green's $1,500 account Note: Enter debits...
Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off...
Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off an $1,000 account of a customer, C. Green. On March 9, it receives a $500 payment from Green. Prepare the journal entry for January 31 and March 9. Assume no additional money is expected from Green for March 9. View transaction list Journal entry worksheet 1 2 Record the write-off of Green's $1,000 account Note: Enter debits before credits. Credit Date General Journal Debit...
Exercise 9-4 Direct write-off method LO P1 Dexter Company uses the direct write-off method. March 11...
Exercise 9-4 Direct write-off method LO P1 Dexter Company uses the direct write-off method. March 11 Dexter determines that it cannot collect $9,109 of its accounts receivable from Leer Co. 29 Leer Co. unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt. Prepare journal entries to record the above transactions View transaction list Journal entry worksheet 23 Record write off of Leer Co. account. Note: Enter debits before credits Date General Journal...
At year-end (December 31), Chan Company estimates its bad debts as 100% of its annual credit...
At year-end (December 31), Chan Company estimates its bad debts as 100% of its annual credit sales of $692,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $346 account of P Park is uncollectible and writes it off as a bad debt. On June 5, Park unexpectedly pays the amount previously written off Prepare Chan's journal entries for the transactions. View transaction list Journal entry worksheet < 1 2 3...
Dexter Company uses the direct write-off method. March 11 Dexter determines that it cannot collect $9,100 of its accounts receivable from Leer Co. 29 Leer Co. unexpectedly pays its account in full1 to Dexter Company. Dexter records its recovery of this bad debt. Prepare journal entries to record the above transactions. View transaction list Journal entry worksheet 1 2 Record write off of Leer Co. account. Note: Enter debits before credits Date General Journal Debit Credit March 11 Record entry...
Dexter Company applies the direct write-off method in accounting for uncollectible accounts March 11 Dexter determines that it cannot collect 59,200 of its accounts receivable from its customer Leer Company. 29 Leer Company unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt. Prepare journal entries to record the above selected transactions of Dexter. View transaction list Journal entry worksheet 2 3 Record write off of Leer Company account. Note: Enter debits before...
Dexter Company applies the direct write-off method in accounting for uncollectible accounts. March 11 Dexter determines that it cannot collect $9,800 of its accounts receivable from its customer Leer Company. 29 Leer Company unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt Prepare journal entries to record the above selected transactions of Dexter. View transaction list Journal entry worksheet 1 2 3 Record write off of Leer Company account Note: Enter debits...
Dexter Company uses the direct write-off method. March 11 Dexter determines that it cannot collect $9,800 of its accounts receivable from Leer Co. 29 Leer Co. unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt. 1.42 points Prepare journal entries to record the above transactions. View transaction list eBook Journal entry worksheet Hint Print Record write off of Leer Co. account. Note: Enter debits before credits. General Journal Debit Credit Date March...
Dexter Company applies the direct write-off method in accounting for uncollectible accounts. March 11 Dexter determines that it cannot collect $8,600 of its accounts receivable from its customer Leer Company. 29 Leer Company unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt. Prepare journal entries to record the above selected transactions of Dexter View transaction list Journal entry worksheet < 1 2 3 Record write off of Leer Company account. Note: Enter...
Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off an $1,500 account of a customer, C. Green. On March 9, it receives a $1,000 payment from Green. 1. Prepare the journal entry for January 31 2. Prepare the journal entries for March 9; assume no additional money is expected from Green. View transaction list View transaction list Journal entry worksheet 1 2 3 Record the write-off of Green's $1,500 account Note: Enter debits...
Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off an $1,000 account of a customer, C. Green. On March 9, it receives a $500 payment from Green. Prepare the journal entry for January 31 and March 9. Assume no additional money is expected from Green for March 9. View transaction list Journal entry worksheet 1 2 Record the write-off of Green's $1,000 account Note: Enter debits before credits. Credit Date General Journal Debit...
Exercise 9-4 Direct write-off method LO P1 Dexter Company uses the direct write-off method. March 11 Dexter determines that it cannot collect $9,109 of its accounts receivable from Leer Co. 29 Leer Co. unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt. Prepare journal entries to record the above transactions View transaction list Journal entry worksheet 23 Record write off of Leer Co. account. Note: Enter debits before credits Date General Journal...
At year-end (December 31), Chan Company estimates its bad debts as 100% of its annual credit sales of $692,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $346 account of P Park is uncollectible and writes it off as a bad debt. On June 5, Park unexpectedly pays the amount previously written off Prepare Chan's journal entries for the transactions. View transaction list Journal entry worksheet < 1 2 3...
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