Date | Accounts title and Explanation | Debit | Credit |
1 | Bad debts Expense (3176000*3%) | 95280 | |
Allowance for doubtful debts | 95280 | ||
( To record the entry for allowance of bad debts) | |||
2 | Bad debts Expense (1809840+3176000)*2%) | 99717 | |
Allowance for doubtful debts | 99717 | ||
( To record the entry for allowance of bad debts) | |||
3 | Bad debts Expense (962328*6%)+11510 | 69250 | |
Allowance for doubtful debts | 69250 | ||
( To record the entry for allowance of bad debts) |
The following information applies to the questions displayed below] At December 31, 2016, Hawke Company reports...
Required information The following information applies to the questions displayed below.) At December 31, 2018, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $2,030,630 3,080,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $933,240 debit 24,950 debit 2. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31, 2018, balance sheet assuming that bad debts are estimated to be 3% of...
Required information [The following information applies to the questions displayed below.) At December 31, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $1,798,320 $3,102,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $939,906 debit $ 24,180 debit Required: 1. Prepare the adjusting entry to record bad debts under each separate assumption. a. Bad debts are estimated to be 3% of credit sales. b. Bad debts are...
Required information The following information applies to the questions displayed below.) At December 31, 2018, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $2,030,630 3,080,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $933,240 debit 24,950 debit Required: 1. Prepare the adjusting entry for this company to recognize bad debts under each of the following independent assumptions. a. Bad debts are estimated to be 3% of...
Chapter 7 Problems * Saved Required information [The following information applies to the questions displayed below.) Part 2 of 3 At December 31, Hawke Company reports the following results for its calendar year. 2.5 points Cash sales Credit sales $1,412,210 $3,177,000 In addition, its unadjusted trial balance includes the following items. eBook Accounts receivable Allowance for doubtful accounts $962,631 debit $ 22,440 debit Print 2. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31...
Chapter 7 Problems A Saved Required information [The following information applies to the questions displayed below.] Part 3 of 3 At December 31, Hawke Company reports the following results for its calendar year. 2.5 points Cash sales Credit sales $1,412,210 $3,177,000 In addition, its unadjusted trial balance includes the following items. eBook Accounts receivable Allowance for doubtful accounts $962,631 debit $ 22,440 debit Print 3. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31...
Required information The following information applies to the questions displayed below. At December 31, 2017, Hawke Company reports the following results for its calendar year Cash sales credit sales $1,501, 810 2,943, 000 in addition,its unadjusted trial balnce incues the tollowing tems Accounts receivable Allowance for doubtful accounts $891, 729 debit 15, 790 debit Required 1. Prepare the adjusting entry for this company to recognize bad debts under each of the following independent assumptions a. b. c. Bad debts are...
[The following information applies to the questions displayed below.] At December 31, 2018, Hawke Company reports the following results for its calendar year. Required information (The following information applies to the questions displayed below.] At December 31, 2018, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $1,478,710 3,022,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $915,666 debit 20,920 debit Required: 1. Prepare the adjusting entry...
At December 31, 2017, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $2,109,120 3,221,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $975,963 debit 20,610 debit Required: Respond to each of the following independent scenarios. a. Prepare the adjusting entry for this company to recognize bad debts assuming bad debts are estimated to be 3% of credit sales. Show how Accounts Receivable and the Allowance for...
At December 31, Hawke Company reports the following results for its calendar year. In addition, its unadjusted trial balance includes the following items. Required: 1. Prepare the adjusting entry to record bad debts under each separate assumption. a. Bad debts are estimated to be 1.5% of credit sales. b. Bad debts are estimated to be 1% of total sales. c. An aging analysis estimates that 5% of year-end accounts receivable are uncollectible. Adjusting entries (all dated December 31). 2. Show how Accounts Receivable and the Allowance for Doubtful...
At December 31, Hawke Company reports the following results for its calendar year. In addition, its unadjusted trial balance includes the following items. Accounts receivable........... $1.270.100 debit Allowance for doubtful accounts ..... $16,580 debit Required Prepare the adjusting entry to record bad debts under each. sep assumption.a. Bad debts are estimated to be 1.5% of credit sales.b. Bad debts are estimated to be 1% of total sales.c. An aging analysis estimates that 5% of year-end accounts receivable are uncollectible.2. Show how Accounts Receivable and...