Homework Answers
Answer:
| Date | General journal | Debit | Credit |
| Dec-31-2018 | Allowance for doubtful accounts | $ 5,000.00 | |
| Accounts receivable | $ 5,000.00 | ||
| (To write of receivables) | |||
| Nov-04-2019 | Accounts receivable | $ 5,000.00 | |
| Allowance for doubtful accounts | $ 5,000.00 | ||
| (To reinstate receivables earlier written off) | |||
| Nov-04-2019 | Cash | $ 5,000.00 | |
| Accounts receivable | $ 5,000.00 | ||
| (To record collection from receivable) |
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Chapter 11
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On December 31, 2017, Jellison purchased $5,000 of merchandise inventory on a one-year, 11% note payable. Jellison uses a perpetual inventory system. Read the requirements. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Requirement 1. Journalize the company's purchase of merchandise inventory on December 31, 2017. Date Accounts and Explanation Debit Credit i X Х Requirements 2017 Dec. 31 1. Journalize the company's purchase of merchandise inventory on...
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help please asap
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