apologies but we are allowed to answer 1 question at a time or 4 subparts.
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please sir do it #/epub/sn_5b01#epubcfi(%2F6%2F336%5Bdata-uuid-bf682f07c16e4fad819d46cddcdb283b%5D9%2F4%2F2%5Bdat... a A G wy w account should be written off. What...
Problem 85A Accounts receivable transactions and bad debt adjustments 01, 2, 3 CHECK AGURES: 2. Bad Debt Expense = $20,460,5. Bad Debt Expense = $7.200 Swiss Supplies showed the following selected adjusted balances at its December 31, 2019. yearend: Accounts Receivable Dec. 31/19 Balance Allowance for Doubtful Accounts 16,400 Dec. 31/19 Balance 490,000 During 2020, the following selected transactions occurred: 2. Sales totalled $2.800.000, of which 25% were cash sales (cost of sales $1.804,000). Sales returns were $108,000, half regarding...
Hello, I need detailed solution for this question Note: check attachments Thank you mere to search Signature: Date: Assignment 1 HRM210 W2020 Name: Student ID 3. BeleVu Supplies showed the following se Accounts Receivable Supplies showed the following selected adiusted balances at its December 31, 2019, year-end: Dec. 31/16 Balance 490,000 Allowance for Doubtful Accounts 16,400 Dec. 31/16 Balance During the year 2020, the following selected transactions occurred: a. Sales totalled $2,800,000, of which 25% were cash sales (cost of...
Swiss Supplies showed the following selected adjusted balances at its December 31, 2019, year-end: Accounts Receivable Dec. 31/19 Balance 390,000 Allowance for Doubtful Accounts 20,400 Dec. 31/19 Balance During 2020, the following selected transactions occurred: a. Sales totalled $2,780,000, of which 25% were cash sales (cost of sales $1,795,000). b. Sales returns were $118,000, half regarding credit sales. The returned merchandise was scrapped. c. An account for $34,000 was recovered. d. Several accounts were written off: $36,000. e. Collections from...
On December 31, 2020, Corotel Company's year-end, the unadjusted trial balance included the following items: Credit Account Accounts receivable Allowance for doubtful accounts Sales ($2,790,000 cash sales) Debit $2,090,000 32,000 $11,160,000 Required: 1. Prepare the adjusting entry needed in Corotel's books to recognize bad debts under each of the following independent assumptions. a. Bad debts are estimated to be 2% of credit sales. b. An analysis suggests that 5% of outstanding accounts receivable on December 31, 2020, will become uncollectible....
1. Teal Company's unadjusted trial balance at December 31, 2020, included the following accounts. Credit Accounts receivable Allowance for doubtful accounts Net sales Debit $49,900 7,790 $1,279,500 Teal Company estimates its bad debt expense to be 8% of gross accounts receivable. Determine its bad debt expense for 2020. Bad debt expense for 2020 2. An analysis and aging of Flint Corp. accounts receivable at December 31, 2020, disclosed the following. Amounts estimated to be uncollectible Accounts receivable Allowance for doubtful...
P7.2 (LO 3) Groupwork (Bad-Debt Reporting) The following are a series of unrelated situations. 1. Halen Company's unadjusted trial balance at December 31, 2020, included the following accounts. Debit Credit Accounts receivable $53,000 Allowance for doubtful accounts 4,000 Net sales $1,200,000 Halen Company estimates its bad debt expense to be 7% of gross accounts receivable. Determine its bad debt expense for 2020. 2. An analysis and aging of Stuart Corp. accounts receivable at December 31, 2020, disclosed the following. Amounts...
Current Attempt in Progress The following are a series of unrelated situations. Answer the questions relating to each of the five independent situations as requested. 1. Riverbed Company's unadjusted trial balance at December 31, 2020, included the following accounts. Credit Accounts receivable Allowance for doubtful accounts Net sales Debit $52,100 7.940 $1,229,300 Riverbed Company estimates its bad debt expense to be 7% of gross accounts receivable. Determine its bad debt expense for 2 Bad debt expense for 2020 S 2....
The following are a series of unrelated situations. Answer the questions relating to each of the five independent situations as requested. 1. Swifty Company’s unadjusted trial balance at December 31, 2020, included the following accounts. Debit Credit Accounts receivable $53,300 Allowance for doubtful accounts 4,950 Net sales $1,232,500 Swifty Company estimates its bad debt expense to be 6% of gross accounts receivable. Determine its bad debt expense for 2020. Bad debt expense for 2020 $ ___________ 2. An analysis and...
The following are a series of unrelated situations. Answer the questions relating to each of the five independent situations as requested. 1. Indigo Company's unadjusted trial balance at December 31, 2020, included the following accounts. Credit Accounts receivable Allowance for doubtful accounts Net sales Debit $48,600 4.470 $1,225,600 Indigo Company estimates its bad debt expense to be 6% of gross accounts receivable. Determine its bad debt expense for 2020. Bad debt expense for 2020 $ 2. An analysis and aging...
Question 10 View Policies Current Attempt in Progress The following are a series of unrelated situations. Answer the questions relating to each of the five independent situations as requested. 1. Pronghorn Company's unadjusted trial balance at December 31, 2020, included the following accounts. Credit Accounts receivable Allowance for doubtful accounts Net sales Debit $49,900 7.790 $1,279,500 Pronghorn Company estimates its bad debt expense to be 8% of gross accounts receivable. Determine its bad debt expense for 2020. Bad debt expense...