1.
Date | Account Titles | Debit | Credit |
2-Dec | Accounts Receivable | $ 5,000 | |
Sales Revenue | $ 5,000 | ||
Cost of Goods Sold | $ 2,500 | ||
Inventory | $ 2,500 | ||
20-Dec | Allowance for Doubtful accounts | $ 3,700 | |
Accounts Receivable | $ 3,700 | ||
23-Dec | Accounts Receivable | $ 2,500 | |
Allowance for Doubtful accounts | $ 2,500 | ||
Cash | $ 2,500 | ||
Accounts Receivable | $ 2,500 | ||
31-Dec | Bad Debt Expense | $ 1,330 | |
Allowance for Doubtful accounts | $ 1,330 |
2.
Accounts Receivable | |||
Beg Bal | $ 50,000 | ||
2-Dec | $ 5,000 | $ 3,700 | 20-Dec |
23-Dec | $ 2,500 | $ 2,500 | 23-Dec |
End Bal | $ 51,300 | ||
Allowance for Doubtful Accounts | |||
$ 5,000 | Beg Bal | ||
20-Dec | $ 3,700 | $ 2,500 | 23-Dec |
$ 1,330 | 31-Dec | ||
$ 5,130 | |||
Bad Debt Expense | |||
Beg Bal | $ - | ||
31-Dec | $ 1,330 | ||
End Bal | $ 1,330 |
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