Black Corporation’s accounts payable at December 31, 2018, totaled P 900,000.00 before any necessary year-end adjustments relating to the following transactions;  On December 27, 2018, Black wrote and recorded checks totaling P 400,000.00 causing an overdraft of P100,000.00 in Black’s bank account at December 31, 2018. The checks were mailed out on January 10, 2019.  On December 28, 2018, Black purchased and received goods for P 153,061.00, terms 2/10, n/30. Black records purchases and payable at net amounts. The invoice was recorded

Find the amount of accounts receivables written off in 2019.

Weldon Corporation's fiscal year ends December 31. The following is a list of transactions involving receivables that occurred during 2021: Mar. 17 Accounts receivable of $3,600 were written off as uncollectible. The company uses the allowance method. 38 Loaned an officer of the company $42,009 and received a note requiring principal and interest at 5% to be paid on March 30, 2022. Hay 30 Discounted the $42,eee note at a local bank. The bank's discount rate is 6%. The note was discounted without recourse and the sale criteria are met. June 30 Sold merchandise to the Blankenship Company for $31,8ea. Terms of the sale are 2/10, n/30. Weldon uses the gross method to account for cash discounts. July 8 The Blankenship Company paid its account in full. Aug. 31 Sold stock in a nonpublic company with a book value of $6,900 and accepted a $7,900 noninterest-bearing note with a discount rate of 6%. The $7,980 payment is due on February 28, 2022. The stock has no ready market value. Dec. 31…

At the end of 2021, Shamrock Co. has accounts receivable of $768,300 and an allowance for doubtful accounts of $26,300. On January 24, 2022, it is learned that the company's receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,480. (a) Prepare the journal entry to record the write-off. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Allowance for Doubtful Accounts 4480 Accounts Receivable 4480 (b) What is the cash realizable value of the accounts receivable before the write-off and after the write-off? Before Write-Off After Write-Off Cash realizable value $ $

d

At the end of 2020, Shamrock Company has accounts receivable of $832,000 and an allowance for doubtful accounts of $41,600. On January 16, 2021, Shamrock Company determined that its receivable from Ramirez Company of $6,240 will not be collected, and management authorized its write-off.

At the end of 2021, Tamarisk, Inc. has accounts receivable of $740,700 and an allowance for doubtful accounts of $37.700. On January 24,2022, it is learned that the company's receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $6,300. On March 4, 2022, Tamarisk, Inc. receives payment of $6,300 in full from Madonna Inc. Prepare the journal entries to record this transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Account Titles and Explanation (To reverse write-off) (To record collection from Madonna) Debit Credit SUPPORT

Pincus Associates uses the allowance method to account for bad debts.  During 2021, its first year of operations, Pincus provided a total of $290,000 of services on account. In 2021, the company wrote off uncollectible accounts of $11,700.  By the end of 2021, cash collections on accounts receivable totaled $245,700.  Pincus estimates that 15% of the accounts receivable balance at 12/31/2021 will prove uncollectible.Required:1. & 2. What journal entry did Pincus record to write off uncollectible accounts during 2021 and to recognize bad debt expense for 2021? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Blossom Equipment Sales Company, which sells only on account, had a $120,000 balance in its Accounts Receivable and a $4,200 balance in its Allowance for Expected Credit Losses on December 31, 2023. During 2024, the company's sales of equipment were $820,000, and its total cash collections from customers were $780,000. During year, the company identified customers with accounts totalling $6,000 that would be unable to pay and wrote these receivables off. However, one of these customers subsequently made a payment of $800. (Note that this amount is not included in the cash collections noted above.) At the end of 2024, management grouped its receivables based on credit risk and estimated the expected rate of credit losses for each group. Based on this, management determined that the total expected credit losses would be $7,200. what amount of credit losses would appear on the statement of income for the year ended december 31, 2024

On December 31, 2020, Extreme Fitness has adjusted balances of $830,000 in Accounts Receivable and $61,000 in Allowance for Doubtful Accounts. On January 2, 2021, the company learns that certain customer accounts are not collectible, so management authorizes a write-off of these accounts totaling $13,000. Required: Assume that on February 2, 2021, Extreme Fitness received a payment of $800 from one of the customers whose balance had been written off. Prepare the journal entries to record this transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the reversal of a customer account previously written off in the amount of $800. On December 31, 2020, Extreme Fitness has adjusted balances of $830,000 in Accounts Receivable and $61,000 in Allowance for Doubtful Accounts. On January 2, 2021, the company learns that certain customer accounts are not collectible, so…