a.  Journalize the transactions under the direct write-off method. June 8.   fill in the blank bf7117f8305e074_2 fill in the blank bf7117f8305e074_3     fill in the blank bf7117f8305e074_5 fill in the blank bf7117f8305e074_6 Aug. 14   fill in the blank bf7117f8305e074_8 fill in the blank bf7117f8305e074_9     fill in the blank bf7117f8305e074_11 fill in the blank bf7117f8305e074_12     fill in the blank bf7117f8305e074_14 fill in the blank bf7117f8305e074_15 Oct.16-reinstate   fill in the blank bf7117f8305e074_17 fill in the blank bf7117f8305e074_18     fill in the blank bf7117f8305e074_20 fill in the blank bf7117f8305e074_21 Oct.16-collection   fill in the blank bf7117f8305e074_23 fill in the blank bf7117f8305e074_24     fill in the blank bf7117f8305e074_26 fill in the blank bf7117f8305e074_27 Dec. 31-write-off   fill in the blank bf7117f8305e074_29 fill in the blank bf7117f8305e074_30     fill in the blank bf7117f8305e074_32 fill in the blank bf7117f8305e074_33     fill in the blank bf7117f8305e074_35 fill in the blank bf7117f8305e074_36     fill in the blank bf7117f8305e074_38 fill in the blank bf7117f8305e074_39     fill in the blank bf7117f8305e074_41 fill in the blank bf7117f8305e074_42     fill in the blank bf7117f8305e074_44 fill in the blank bf7117f8305e074_45 Dec. 31-adjusting   fill in the blank bf7117f8305e074_47 fill in the blank bf7117f8305e074_48     fill in the blank bf7117f8305e074_50 fill in the blank bf7117f8305e074_51 b.  Journalize the transactions under the allowance method, assuming that the allowance account had a beginning credit balance of $25,620 on January 1 and the company uses the analysis of receivables method. June 8.   fill in the blank 8cf655f8bfbffe7_2 fill in the blank 8cf655f8bfbffe7_3     fill in the blank 8cf655f8bfbffe7_5 fill in the blank 8cf655f8bfbffe7_6 Aug. 14   fill in the blank 8cf655f8bfbffe7_8 fill in the blank 8cf655f8bfbffe7_9     fill in the blank 8cf655f8bfbffe7_11 fill in the blank 8cf655f8bfbffe7_12     fill in the blank 8cf655f8bfbffe7_14 fill in the blank 8cf655f8bfbffe7_15 Oct.16-reinstate   fill in the blank 8cf655f8bfbffe7_17 fill in the blank 8cf655f8bfbffe7_18     fill in the blank 8cf655f8bfbffe7_20 fill in the blank 8cf655f8bfbffe7_21 Oct.16-collection   fill in the blank 8cf655f8bfbffe7_23 fill in the blank 8cf655f8bfbffe7_24     fill in the blank 8cf655f8bfbffe7_26 fill in the blank 8cf655f8bfbffe7_27 Dec. 31-write-off   fill in the blank 8cf655f8bfbffe7_29 fill in the blank 8cf655f8bfbffe7_30     fill in the blank 8cf655f8bfbffe7_32 fill in the blank 8cf655f8bfbffe7_33     fill in the blank 8cf655f8bfbffe7_35 fill in the blank 8cf655f8bfbffe7_36     fill in the blank 8cf655f8bfbffe7_38 fill in the blank 8cf655f8bfbffe7_39     fill in the blank 8cf655f8bfbffe7_41 fill in the blank 8cf655f8bfbffe7_42     fill in the blank 8cf655f8bfbffe7_44 fill in the blank 8cf655f8bfbffe7_45 Dec. 31-adjusting   fill in the blank 8cf655f8bfbffe7_47 fill in the blank 8cf655f8bfbffe7_48     fill in the blank 8cf655f8bfbffe7_50 fill in the blank 8cf655f8bfbffe7_51 c.  How much higher (lower) would Rustic Tables’ net income have been under the direct write-off method than under the allowance method?

The following accounts receivable information pertains to Marshall Inc. Past-Due Accounts Percentage Category Receivable Total Uncollectible 0-30 days $84,550 8% 31-90 days 37,230 16% Over 90 days 23,170 37% Determine the estimated uncollectible bad debt from Marshall Inc. using the balance sheet aging of receivables method. Round final answer to two decimal places. Record the year-end adjusting journal entry for bad debt. If an amount box does not require an entry, leave it blank. Round your answers to two decimal places. Dec. 31

Millennium Associates records bad debt using the allowance, income statement method. They recorded $320,420 in accounts receivable for the year, and $781,270 in credit sales. The uncollectible percentage is 3.6%. On February 5, Millennium Associates identifies one uncollectible account from Molar Corp in the amount of $1,830. On April 15, Molar Corp unexpectedly pays its account in full. Record journal entries for the following. A. Year-end adjusting entry for 2017 bad debt B. February 5, 2018 identification entry C. Entry for payment on April 15, 2018

On 1 June, Mason and Boyce had Accounts Receivable and Allowance for Doubtful Debts accounts asbelow. Ignore GST. On 01/06 Accounts Receivable = 849555 Allowance for doubtful debt =12100 During June, the following transactions occurred:1. Revenue earned on credit, $1,195,000.2. Sales returns, $24,100.3. Accounts receivable collected, $1,400,000.4. Accounts written off as uncollectable, $15,851.Based on an ageing of accounts receivable on 30 June, the firm determined that the Allowance forDoubtful Debts account should have a credit balance of $13,500 on the balance sheet as at 30 June.Ignore GST.Required:(a) Prepare general journal entries to record the four transactions and to adjust the Allowance forDoubtful Debts account.(b) Show how accounts receivable and the allowance for doubtful debts would appear on the balancesheet at 30 June. (c) On 29 June, Kim Ltd, whose $2,400 account had been written off as uncollectable in June, paid itsaccount in full. Prepare journal entries to record…

Banning Company uses the alowance method to account for uncolectible receivables. At the beginning of the year. Allowance for Bad Debts had a credit balance of $1,400 During the year Banning wrote off uncollectible recevabies of $2.300. Barning recorded Bad Debts Expense of $2,700 What is Barning's year-end balance in Alowance for Bad Debts? OA $1,800 OB $400 OC $4,100 OD $5,000 Time Remaining: 01:17:13 Next

A company uses the allowance method to account for uncollectible accounts. During the year, the company has actual bad debts of $27,000. Record the write-off of the uncollectible accounts. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 Record the write-off of the uncollectible accounts. Note: Enter debits before credits. Event General Journal Debit Credit 1 4). F12 F7 Fo F3 # 2$ 5 6 7 8 9 { E R Y F G H. K S < M C V alt command option command + lI .. .-

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Allowance for Doubtful Accounts has a credit balance of $800 at the end of the year (before adjustment), and an analysis of accounts in the customers ledger indicates that the estimated amount of uncollectible accounts is $16,000. Based on the estimate, which of the following adjusting entries should be made? a.debit Allowance for Doubtful Accounts, $800; credit Bad Debt Expense, $800 b.debit Bad Debt Expense, $16,800; credit Allowance for Doubtful Accounts, $16,800 c.debit Bad Debt Expense, $800; credit Allowance for Doubtful Accounts, $800 d.debit Bad Debt Expense, $15,200; credit Allowance for Doubtful Accounts, $15,200

Craigmont uses the allowance method to account for uncollectible accounts. Its year-end unadjusted trial balance shows Accounts Receivable of $128,500, allowance for doubtful accounts of $905 (credit) and sales of $1,045,000. If uncollectible accounts are estimated to be 0.7% of sales, what is the amount of the bad debts expense adjusting entry?

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