Homework Answers
Journal entry
| date | General journal | Debit | credit |
| Dec 31 | Bad debt expense (78000*11%+1451) | 10031 | |
| Allowance for doubtful accounts | 10031 | ||
| May 11 | Allowance for doubtful account | 1260 | |
| Account receivable-B. Jared | 1260 | ||
| June 12 | Account receivable-B.Jared | 1260 | |
| Allowance for doubtful accounts | 1260 | ||
| (To reinstate account previously written off) | |||
| Cash | 1260 | ||
| Account receivable-B.Jared | 1260 | ||
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Exercise 8-07 On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1,451, Blossom Com...
On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1,451,...
On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1,451, Blossom Company estimates that 11% of its accounts receivable balance of $78,000 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. On May 11, 2022, Blossom Company determined that B. Jared's account was uncollectible and wrote off $1,260. On June 12, 2022, Jared paid the amount previously written off. Prepare the journal entries on December 31, 2021, May 11, 2022,...
On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1,451,...
On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1,451, Blossom Company estimates that 11% of its accounts receivable balance of $78,000 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. On May 11, 2022, Blossom Company determined that B. Jared's account was uncollectible and wrote off $1,260. On June 12, 2022, Jared paid the amount previously written off. Prepare the journal entries on December 31, 2021, May 11, 2022, and...
On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1,432,...
On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1,432, Sunland Company estimates that 9% of its accounts receivable balance of $105,900 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. On May 11, 2022, Sunland Company determined that B. Jared's account was uncollectible and wrote off $1,091. On June 12, 2022, Jared paid the amount previously written off. Prepare the journal entries on December 31, 2021, May 11, 2022,...
On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1,400,...
On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1,400, Dallas Co. estimates that 9% of its accounts receivable balance of $90,000 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. On May 11, 2022, Dallas Co, determined that B. Jared's account was uncollectible and wrote off $1,200. On June 12, 2022, Jared paid the amount previously written off. Prepare the journal entries on December 31, 2021, May 11, 2022,...
current Attempt in Progress On December 31, 2021, when its Allowance for Doubtful Accounts had a...
current Attempt in Progress On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1,469, Ivanhoe Company estimates that 11% of its accounts receivable balance of $77,700 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. On May 11, 2022, Ivanhoe Company determined that B. Jared's account was uncollectible and wrote off $1,139. On June 12, 2022, Jared paid the amount previously written oft Prepare the journal entries on December 31,...
1. On December 31, 2016, when its Allowance for Doubtful Accounts had a debit balance of...
1. On December 31, 2016, when its Allowance for Doubtful Accounts had a debit balance of $1,427, Blue Spruce Corp. estimates that 9% of its accounts receivable balance of $72,800 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. 2. On May 11, 2017, Blue Spruce Corp. determined that B. Jared's account was uncollectible and wrote off $1,283. 3. On June 12, 2017, Jared paid the amount previously written off. Prepare the lqurnal entries on December...
1. On December 31, 2016, when its Allowance for Doubtful Accounts had a debit balance of...
1. On December 31, 2016, when its Allowance for Doubtful Accounts had a debit balance of $1,476, Coronado Industries estimates that 10% of its accounts receivable balance of $98,500 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. 2. On May 11, 2017, Coronado Industries determined that B. Jared's account was uncollectible and wrote off $1,168. 3. On June 12, 2017, Jared paid the amount previously written off. Prepare the journal entries on automatically indented when...
please help with this accounting question! Question 7 View Policies Current Attempt in Progress On December...
please help with this accounting question!
Question 7 View Policies Current Attempt in Progress On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1.371. Tamarisk, Inc. estimates that 8% of its accounts receivable balance of $77,800 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts On May 11, 2022, Tamarisk, Inc, determined that B. Jared's account was uncollectible and wrote off $1,135, On June 12, 2022, Jared paid the amount...
On December 31, 2016, when its Allowance for Doubtful Accounts had a credit balance of $1,500....
On December 31, 2016, when its Allowance for Doubtful Accounts had a credit balance of $1,500. Leeds Company estimates that 6% of its accounts receivable balance of $95,000 will become uncollectible. On March 3, 2017, Leeds Company determined that Megan Jost's account of $950 was uncollectible. On May 15, 2017, Jost paid the amount previously written off. Prepare the journal entries for December 31,2016, March 3, 2017 and May 15, 2017.(Credit account titles are automatically indented when the amount is...
Exercise 8-5 On December 31, 2017, when its accounts receivable were $348,000 and its account Allowance...
Exercise 8-5 On December 31, 2017, when its accounts receivable were $348,000 and its account Allowance for Doubtful Accounts had an unadjusted debit balance of $2,300, Springfield Corp. estimated that $19,500 of its accounts receivable would become uncollectible, and it recorded the bad debts adjusting entry. On May 11, 2018, Springfield determined that Fei Ya Cheng's account was uncollectible and wrote off $2,200. On November 12, 2018, Cheng paid the amount previously written off. Prepare the required journal entries to...
On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1,451, Blossom Company estimates that 11% of its accounts receivable balance of $78,000 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. On May 11, 2022, Blossom Company determined that B. Jared's account was uncollectible and wrote off $1,260. On June 12, 2022, Jared paid the amount previously written off. Prepare the journal entries on December 31, 2021, May 11, 2022,...
On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1,451, Blossom Company estimates that 11% of its accounts receivable balance of $78,000 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. On May 11, 2022, Blossom Company determined that B. Jared's account was uncollectible and wrote off $1,260. On June 12, 2022, Jared paid the amount previously written off. Prepare the journal entries on December 31, 2021, May 11, 2022, and...
On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1,432, Sunland Company estimates that 9% of its accounts receivable balance of $105,900 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. On May 11, 2022, Sunland Company determined that B. Jared's account was uncollectible and wrote off $1,091. On June 12, 2022, Jared paid the amount previously written off. Prepare the journal entries on December 31, 2021, May 11, 2022,...
On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1,400, Dallas Co. estimates that 9% of its accounts receivable balance of $90,000 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. On May 11, 2022, Dallas Co, determined that B. Jared's account was uncollectible and wrote off $1,200. On June 12, 2022, Jared paid the amount previously written off. Prepare the journal entries on December 31, 2021, May 11, 2022,...
current Attempt in Progress On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1,469, Ivanhoe Company estimates that 11% of its accounts receivable balance of $77,700 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. On May 11, 2022, Ivanhoe Company determined that B. Jared's account was uncollectible and wrote off $1,139. On June 12, 2022, Jared paid the amount previously written oft Prepare the journal entries on December 31,...
1. On December 31, 2016, when its Allowance for Doubtful Accounts had a debit balance of $1,427, Blue Spruce Corp. estimates that 9% of its accounts receivable balance of $72,800 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. 2. On May 11, 2017, Blue Spruce Corp. determined that B. Jared's account was uncollectible and wrote off $1,283. 3. On June 12, 2017, Jared paid the amount previously written off. Prepare the lqurnal entries on December...
1. On December 31, 2016, when its Allowance for Doubtful Accounts had a debit balance of $1,476, Coronado Industries estimates that 10% of its accounts receivable balance of $98,500 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. 2. On May 11, 2017, Coronado Industries determined that B. Jared's account was uncollectible and wrote off $1,168. 3. On June 12, 2017, Jared paid the amount previously written off. Prepare the journal entries on automatically indented when...
please help with this accounting question!
Question 7 View Policies Current Attempt in Progress On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1.371. Tamarisk, Inc. estimates that 8% of its accounts receivable balance of $77,800 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts On May 11, 2022, Tamarisk, Inc, determined that B. Jared's account was uncollectible and wrote off $1,135, On June 12, 2022, Jared paid the amount...
On December 31, 2016, when its Allowance for Doubtful Accounts had a credit balance of $1,500. Leeds Company estimates that 6% of its accounts receivable balance of $95,000 will become uncollectible. On March 3, 2017, Leeds Company determined that Megan Jost's account of $950 was uncollectible. On May 15, 2017, Jost paid the amount previously written off. Prepare the journal entries for December 31,2016, March 3, 2017 and May 15, 2017.(Credit account titles are automatically indented when the amount is...
Exercise 8-5 On December 31, 2017, when its accounts receivable were $348,000 and its account Allowance for Doubtful Accounts had an unadjusted debit balance of $2,300, Springfield Corp. estimated that $19,500 of its accounts receivable would become uncollectible, and it recorded the bad debts adjusting entry. On May 11, 2018, Springfield determined that Fei Ya Cheng's account was uncollectible and wrote off $2,200. On November 12, 2018, Cheng paid the amount previously written off. Prepare the required journal entries to...
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