Splish Brothers Exporters sold goods to Bonita Electronics for $50,000 on October 1, 2017, accepting Bonita Electronics' $50,000, 6- month, 8% note. Prepare Splish Brothers's October 1 entry, December 31 annual adjusting entry, and April 1 entry for the collection of the note and interest. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit

Following are selected transactions of Youth Inc. during December 2016.   Dec 1:  Youth accepted a one year 8% note receivable from a new customer, GGC.  The note is in settlement of an existing $1,500 account receivable.  The note plus interest is due on November 30, 2016.   Dec 8:  An account receivable from JJ in the amount of $700 is determined to be uncollectible and is written off against the Allowance for Doubtful Accounts.   Dec 15:  Received $200 from one of its clients.  Originally this amount was written off as uncollectible since Youth never expected to receive this amount from its client.   Additional information for adjusting entries is as follows:   An aging of accounts receivable indicates very likely uncollectible accounts totaling $9,000.  Prior to the month-end adjustment, the Allowance for Doubtful Accounts had a credit balance of $5,210. Accrued interest revenue on the note receivable from GGC dated December 1, 2016.   Prepare the journal entries for December…

1. On January 10, 2017, Teal Mountain Inc. sold merchandise on account to Tompkins for $8,330, terms n/30. 2. On February 9, Tompkins gave Teal Mountain Inc. a 7% promissory note in settlement of this account. Prepare the journal entry to record the sale and the settlement of the accounts receivable. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Date Credit 1. 2.

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McNamara Industries completed the following transactions during 2024: (Click the icon to view the transactions.) Journalize the transactions. Explanations are not required. Round to the nearest dollar. (Record debits first, then credits. Exclude explanations from journal entries.) Nov. 1: Made sales of $16,000. McNamara estimates that warranty expense is 5% of sales. (Record only the warranty expense.) Date Accounts Debit Credit Nov. 1 More info Nov. 1 Nov. 20 Dec. 31 Dec. 31 ← Made sales of $16,000. McNamara estimates that warranty expense is 5% of sales. (Record only the warranty expense.) Paid $500 to satisfy warranty claims. Estimated vacation benefits expense to be $3,500. McNamara expected to pay its employees a 4% bonus on net income after deducting the bonus. Net income for the year is $25,000. Prin Done X

K McKean Company has a three-month, $16,000, 6% note receivable from L. Stow that was signed on June 1, 2016. Stow defaults on the loan on September 1. Journalize the entry for McKean to record the default of the loan. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Date 2016 Sept. 1 Accounts Debit Credit HO

On Dec. 31, 2021, Boss Company had a credit balance of $50,000 in its records pertaining to allowance for uncollectible accounts. Analysis of its accounts receivable on the same date revealed the following: Age                           Amount                     ％ collectible 0-30 days                   $5,000,000                            95 31-60 days                 600,000                                  85 61-90 days                 450,000                                  70 Over 90 days              100,000                                  50 Total                          $6,150,000 The company has written off $20, 000 of accounts receivable during 2021. How much is the allowance for uncollectible accounts to be reported on Dec. 31, 2021?

Blue Corporation borrowed $62,000 on November 1, 2025, by signing a $63,395, 3-month, zero-interest-bearing note. Prepare Blue's November 1, 2025, entry; the December 31, 2025, annual adjusting entry; and the February 1, 2026, entry. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit

James Company uses the allowance method for uncollectible accounts. James Company accepted a $8,500, 6%, 90-day note dated May 16, from Davis Company in exchange for its past-due account receivable. Make the necessary general journal entries for James Company on May 16 and the August 14 maturity date, assuming that the: a. Note is honored. b. Note is dishonored.

Evergreen Company sells lawn and garden products to wholesalers. The company's fiscal year-end is December 31. During 2024, the following transactions related to receivables occurred: February 28 Sold merchandise to Lennox, Incorporated, for $24,000 and accepted a 8%, 7-month note. 8% is an appropriate rate for this type of note. March 31 Sold merchandise to Maddox Company that had a fair value of $20, 240, and accepted a noninterest-bearing note for which S 22,000 payment is due on March 31, 2025. April 3 Sold merchandise to Carr Company for $20,000 with terms 210/, n30/. Evergreen uses the gross method to account for cash discounts. April 11 Collected the entire amount due from Carr Company April 17 A customer returned merchandise costing $4,500. Evergreen reduced the customer's receivable balance by $6,300, the sales price of the merchandise. Sales retums are recorded by the company as they occur. April 30 Transferred receivables of $63,000 to a factor without recourse. The factor…