Homework Answers
| Date | Accounts | Debit | Credit |
| April 1 | Accounts receivables | $7500 | |
| Sales revenue | $7500 | ||
| April | Cost of goods sold | $5000 | |
| Merchandise inventory | $5000 | ||
| June 10 | Cash ($7500*1/3) | $2500 | |
| Bad debts expense | $5000 | ||
| Accounts receivables | $7500 | ||
| Oct. 11 | Accounts receivables | $5000 | |
| Bad debts expense | $5000 | ||
| Oct. 11 | Cash | $5000 | |
| Accounts receivables | $5000 |
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Test 2 Calculator Journalize the following transactions using the direct write-off method of accounting for uncollectible...
Journalize the following transactions using the allowance method of accounting for uncollectible receivables. April 1 Sold...
Journalize the following transactions using the allowance method of accounting for uncollectible receivables. April 1 Sold merchandise on account to Jim Dobbs, $7,410. The cost of the merchandise is $3,705. April 1 April 1 June 10 Received $2,470 from Jim Dobbs and wrote off the remainder owed of $4,940. If amount box does not require an entry, leave it blank or enter "O". June 10 Oct. 11 Reinstated the account of Jim Dobbs and received $4,940 cash in full payment....
Test 2 Calculator Instruction Using the allowance method of accounting for uncollectible receivables. Transactions: April 1...
Test 2 Calculator Instruction Using the allowance method of accounting for uncollectible receivables. Transactions: April 1 June 10 Sold merchandise on account to Jim Dobbs, $8,700. The cost of the merchandise is $3,480. Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder. Relnstated the account of Jim Dobbs and received cash in full payment Oct 11 Required: Joumalize the above transactions. Refer to the Chert of Accounts for exact wording of account titles. Round...
Test 2 Calculator ? Instruction Chart of Accounts General Journal Instruction Using the allowance method of...
Test 2 Calculator ? Instruction Chart of Accounts General Journal Instruction Using the allowance method of accounting for uncollectible receivables. Transactions: April 1 June 10 11 Sold merchandise on account to Jim Dobbs, $8,700. The cost of the merchandise is $3,480. Received payment for one-third of the receivable from Jim Dobbs and wrote of the remainder. Reinstated the account of Jim Dobbs and received cash in full payment. Oct. Required: Journalize the above transactions. Refer to the Chart of Accounts...
Direct Write-Off Method Journalize the following transactions, using the direct write-off method of accounting for uncollectible...
Direct Write-Off Method Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables Oct. 2: Received $2,210 from Matthew Chapman and wrote off the remainder owed of $2,560 as uncollectible. If an amount box does not require an entry, le it blank. Oct. 2 Dec. 20: Reinstated the account of Matthew Chapman and received $2,560 cash in full payment. Dec. 20-Reinstate Dec
help me please. 31 Journalize the following transactions using the allowance method of account Apr Sold merchandise...
help me please.
31 Journalize the following transactions using the allowance method of account Apr Sold merchandise on account to Jim Dobbs, 57.200. The cost of the mer June to Received payment for one-third of the receivable from Jim Dobbs and wrote using the allowance method of accounting for uncollectible receivables. The cost of the merchandise is $5,400. olvable from Jim Dobbs and wrote of the remainder Oct. 11 Reinstated the account of Jim Dobbs and received cash in full...
Entries for Uncollectible Accounts, using Direct Write-Off Method Journalize the following transactions in the accounts of...
Entries for Uncollectible Accounts, using Direct Write-Off Method Journalize the following transactions in the accounts of Canyon River Medical Co., a medical equipment company that uses the direct write-off method of accounting for uncollectible receivables: Jan. 19 Sold merchandise on account to Dr. Kyle Norby, $6,400. The cost of goods sold was $3,000. June 2 Received $500 from Dr. Kyle Norby and wrote off the remai nder owed on the sale of January 19 as uncollectible. Oct. 23 Reinstated the...
Direct Write-Off Method Journalize the following transactions, using the direct write-off method of accounting for uncollectible...
Direct Write-Off Method Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables. Mar. 17: Received $2,630 from Matthew Chapman and wrote off the remainder owed of $4,790 as uncollectible. If an amount box does not require an entry, leave it blank. Mar. 17 Cash Bad Debt Expense Accounts Receivable-Matthew Chapman Feedback July 29: Reinstated the account of Matthew Chapman and received $4,790 cash in full payment. July 29 Accounts Receivable-Matthew Chapman Bad Debt Expense July...
Allowance Method Journalize the following transactions, using the allowance method of accounting for uncollectible receivables: Oct....
Allowance Method Journalize the following transactions, using the allowance method of accounting for uncollectible receivables: Oct. 2. Received $2,690 from Keith MacPhearson and wrote off the remainder owed of $4,410 as uncollectible. If an amount box does not require an entry, leave it blank. Oct. 2 Dec. 20. Reinstated the account of Keith MacPhearson and received $4,410 cash in full payment. Reinstate Collection -
direct write of method Ch 9-2 Practice Exercises Direct Write-Off Method Journalize the following transactions, using...
direct write of method
Ch 9-2 Practice Exercises Direct Write-Off Method Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables: Oct. 2: Received $2,930 from Ian Kearns and wrote off the remainder owed of $5,680 as uncollectible. If an amount box does not require an entry, leave it blank. Oct. 2 Dec. 20: Reinstated the account of lan Kearns and received $5,680 cash in full payment. Dec. 20- Reinstate Dec. 20-Collection
Class: Date ACCT 230 Spring 2020 Chapter 6 Part Ilin-Class Handout 1. The following journal entries...
Class: Date ACCT 230 Spring 2020 Chapter 6 Part Ilin-Class Handout 1. The following journal entries would be used in one of the two methods of accounting for uncollectible receivables. Identify each. (a) 900 900 Bad Debt Expense Accounts Receivable Billings (b) Allowance for Doubtful Accounts Accounts Receivable Grover 900 00 2. Journalize the following transactions using the direct write-off method of accounting for uncollectible receivables Feb. 20 Received $1,000 from Andrew Warren and wrote off the remainder owed of...
Journalize the following transactions using the allowance method of accounting for uncollectible receivables. April 1 Sold merchandise on account to Jim Dobbs, $7,410. The cost of the merchandise is $3,705. April 1 April 1 June 10 Received $2,470 from Jim Dobbs and wrote off the remainder owed of $4,940. If amount box does not require an entry, leave it blank or enter "O". June 10 Oct. 11 Reinstated the account of Jim Dobbs and received $4,940 cash in full payment....
Test 2 Calculator Instruction Using the allowance method of accounting for uncollectible receivables. Transactions: April 1 June 10 Sold merchandise on account to Jim Dobbs, $8,700. The cost of the merchandise is $3,480. Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder. Relnstated the account of Jim Dobbs and received cash in full payment Oct 11 Required: Joumalize the above transactions. Refer to the Chert of Accounts for exact wording of account titles. Round...
Test 2 Calculator ? Instruction Chart of Accounts General Journal Instruction Using the allowance method of accounting for uncollectible receivables. Transactions: April 1 June 10 11 Sold merchandise on account to Jim Dobbs, $8,700. The cost of the merchandise is $3,480. Received payment for one-third of the receivable from Jim Dobbs and wrote of the remainder. Reinstated the account of Jim Dobbs and received cash in full payment. Oct. Required: Journalize the above transactions. Refer to the Chart of Accounts...
Direct Write-Off Method Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables Oct. 2: Received $2,210 from Matthew Chapman and wrote off the remainder owed of $2,560 as uncollectible. If an amount box does not require an entry, le it blank. Oct. 2 Dec. 20: Reinstated the account of Matthew Chapman and received $2,560 cash in full payment. Dec. 20-Reinstate Dec
help me please.
31 Journalize the following transactions using the allowance method of account Apr Sold merchandise on account to Jim Dobbs, 57.200. The cost of the mer June to Received payment for one-third of the receivable from Jim Dobbs and wrote using the allowance method of accounting for uncollectible receivables. The cost of the merchandise is $5,400. olvable from Jim Dobbs and wrote of the remainder Oct. 11 Reinstated the account of Jim Dobbs and received cash in full...
Entries for Uncollectible Accounts, using Direct Write-Off Method Journalize the following transactions in the accounts of Canyon River Medical Co., a medical equipment company that uses the direct write-off method of accounting for uncollectible receivables: Jan. 19 Sold merchandise on account to Dr. Kyle Norby, $6,400. The cost of goods sold was $3,000. June 2 Received $500 from Dr. Kyle Norby and wrote off the remai nder owed on the sale of January 19 as uncollectible. Oct. 23 Reinstated the...
Allowance Method Journalize the following transactions, using the allowance method of accounting for uncollectible receivables: Oct. 2. Received $2,690 from Keith MacPhearson and wrote off the remainder owed of $4,410 as uncollectible. If an amount box does not require an entry, leave it blank. Oct. 2 Dec. 20. Reinstated the account of Keith MacPhearson and received $4,410 cash in full payment. Reinstate Collection -
direct write of method
Ch 9-2 Practice Exercises Direct Write-Off Method Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables: Oct. 2: Received $2,930 from Ian Kearns and wrote off the remainder owed of $5,680 as uncollectible. If an amount box does not require an entry, leave it blank. Oct. 2 Dec. 20: Reinstated the account of lan Kearns and received $5,680 cash in full payment. Dec. 20- Reinstate Dec. 20-Collection
Class: Date ACCT 230 Spring 2020 Chapter 6 Part Ilin-Class Handout 1. The following journal entries would be used in one of the two methods of accounting for uncollectible receivables. Identify each. (a) 900 900 Bad Debt Expense Accounts Receivable Billings (b) Allowance for Doubtful Accounts Accounts Receivable Grover 900 00 2. Journalize the following transactions using the direct write-off method of accounting for uncollectible receivables Feb. 20 Received $1,000 from Andrew Warren and wrote off the remainder owed of...
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