The income statement approach: journalizing bad debts expense and writing off accounts 00 (25 min) Aug 23 Dr. Allowance for Doubtful Accounts $950 C. Accounts Receivable, Jill O'Reilly $950 GROUP B PROBLEMS P12-18. Yuen Co. of Windsor has requested that you prepare journal entries from the following (this company uses the Allowance for Doubtful Accounts method based on the income statement approach): 2021 Dec. 31 Recorded bad debts expense of $14,800. 2022 Jan. 8 Mar. 5 Wrote off Woody Tree's account of $1,200 as uncollectible. Wrote off Jim Lantz's account of $600 as uncollectible. Recovered $600 from Jim Lantz. July 9 Aug, 20 23 Wrote off Mabel Hest's account of $750 as uncollectible. Wrote off Jim O'Reilly's account of $950 as uncollectible. Recovered $500 from Mabel Hest. Nov. 19

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The income statement approach:
journalizing bad debts expense
and writing off accounts
00 (25 min)
Aug, 23
Dr. Allowance for
Doubtful Accounts
$950
Cr. Accounts Receivable,
Jill O'Reilly
GROUP B PROBLEMS
P12-18. Yuen Co. of Windsor has requested that you prepare journal entries from the
following (this company uses the Allowance for Doubtful Accounts method
based on the income statement approach):
2021
Dec. 31 Recorded bad debts expense of $14,800.
2022
Jan. 8
Mar. 5
Wrote off Woody Tree's account of $1,200 as uncollectible.
Wrote off Jim Lantz's account of $600 as uncollectible.
Recovered $600 from Jim Lantz.
July 9
Aug, 20
23
Wrote off Mabel Hest's account of $750 as uncollectible.
Wrote off Jim O'Reilly's account of $950 as uncollectible.
Recovered $500 from Mabel Hest.
Nov. 19
Transcribed Image Text:The income statement approach: journalizing bad debts expense and writing off accounts 00 (25 min) Aug, 23 Dr. Allowance for Doubtful Accounts $950 Cr. Accounts Receivable, Jill O'Reilly GROUP B PROBLEMS P12-18. Yuen Co. of Windsor has requested that you prepare journal entries from the following (this company uses the Allowance for Doubtful Accounts method based on the income statement approach): 2021 Dec. 31 Recorded bad debts expense of $14,800. 2022 Jan. 8 Mar. 5 Wrote off Woody Tree's account of $1,200 as uncollectible. Wrote off Jim Lantz's account of $600 as uncollectible. Recovered $600 from Jim Lantz. July 9 Aug, 20 23 Wrote off Mabel Hest's account of $750 as uncollectible. Wrote off Jim O'Reilly's account of $950 as uncollectible. Recovered $500 from Mabel Hest. Nov. 19
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