Homework Answers
Solution:
1) Journal Entries
| Date | Account Titles and Explanation | Debit | Credit |
| Sept. 7 | Allowance for uncollectible Accounts | $ 8,100.00 | |
| Accounts Receivables | $ 8,100.00 | ||
| (Account receivable write off) | |||
| Oct. 15 | Allowance for uncollectible Accounts | $ 2,500.00 | |
| Accounts Receivables | $ 2,500.00 | ||
| (Account receivable write off) | |||
| Nov. 9 | Accounts Receivables | $ 6,000.00 | |
| Allowance for uncollectible Accounts | $ 6,000.00 | ||
| (Being balance of accounts receivable is reinstate) | |||
| Nov. 9 | Cash | $ 6,000.00 | |
| Accounts Receivables | $ 6,000.00 | ||
| (Being payment received) | |||
| Dec. 31 | Bad Debts Expenses | $ 9,500.00 | |
| Allowance for uncollectible Accounts | $ 9,500.00 | ||
| (Account receivable write off) |
2) Balance of Allowance for uncollectible Accounts
| Allowance for uncollectible Accounts | |||
| Sept.7 | $ 8,100.00 | Beg. | $ 8,000.00 |
| Oct.15 | $ 2,500.00 | Nov. 9 | $ 6,000.00 |
| Dec. 31 | $ 9,500.00 | ||
| Dec. 31 End | $ 12,900.00 | ||
Add Answer to:
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