b. During the year-end audit, B-Nice was suggested to change the way bad debts were estimated. B-Nice currently uses the percentage of accounts receivable method (10% of 611,100), but will have to revise its estimated bad debt expense using the aging of accounts receivable method. The information pertaining to the accounts receivable is given below: Amount ($) DV Farmer 116,500 Due date January 17, 2022 JJ Joysen 91,200 June 30, 2021 NJ Bell 53,600 July 12, 2021

The Ledger Where are the opening balances located when posting the journal entries? When are they used? Explain and provide example please.

how to fill in general journal

When do we make closing journal entries?

What is the purpose of posting J.F numbers that are entered in the journal at the time entries are posted to the accounts.

journalist the entry to record the issuance of materials

What does the COSO abbreviation mean?  What is the group's purpose and who are it's members?  On their website, look under the guidance tab.  Pick one of the papers that interests you and describe what issue it covers and guidance it provides. https://www.coso.org/Pages/default.aspx

What are the journal entries for recording a promissory note?

What notations are entered into the Posting Reference column of a ledger account?