Morry Company wrote off the following accounts receivable as uncollectible for the first year of its operations ending December 31:   Customer Amount J. Jackson $10,000 L. Stanton 9,500 C. Barton 13,100 S. Fenton 2,400 Total $35,000   Required   (a)Journalize the write-offs for the current year under the direct write-off method.   (b)Journalize the write-offs for the current year under the allowance method. Also, journalize the adjusting entry for uncollectible receivables assuming the company made $2,400,000 of credit sales during the year and the industry average for uncollectible receivables is 1.5% of credit sales.

The ledger of Larkspur Company at the end of the current year shows Accounts Receivable $92,000, Credit Sales $850,000, and Sales Returns and Allowances $37,000. (a) (b) (c) If Larkspur uses the direct write-off method to account for uncollectible accounts, journalize the entry if on July 7 Larkspur determines that Matisse company's $900 balance is uncollectible. Assume Larkspur uses the allowance method to account for uncollectible accounts. If Allowance for Doubtful Accounts has a credit balance of $1,500 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 11% of accounts receivable. (List all debit entries before credit entries. 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.) (b) Assume Larkspur uses the allowance method to account for uncollectible accounts. If Allowance for Doubtful…

Jeter Company uses the allowance method to account for uncollectible receivables. On April 2, Jeter Company wrote off a $820 account receivable from customer J. Maters. On May 12, Jeter Company unexpectedly received full payment from Maters on the previously written off account. Jeter Company records an adjusting entry for bad debts expense of $14,100 on May 31. 9. Journalize Jeter Company's write-off of the uncollectible receivable. 10. Journalize Jeter Company's collection of the previously written off receivable. 11. Journalize Jeter Company's adjustment for bad debts expense. 9. Journalize Jeter Company's write-off of the uncollectible receivable. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.) Date Apr. 2 Accounts and Explanation Debit Credit

As Perry Materials Supply was preparing for the year-end close, their balances were as follows:   Accounts Receivable - $146000 (dr) Allowance for uncollectible accounts - $6200 (dr) Uncollected Account Expense - $0 Perry Materials uses the aging method and has completed the following analysis of the accounts  receivable:   Customer  1-30 Days  31-60 Days 61-90 Days   Over 90  Days Total   Balance Johnson  $4,600  $3,200      $7,800  Hot Pots, Inc.      800  1,000  1,800  Potter  40,000  550      40,550  Harrison    3,600  900    4,500  Marx      2,000  50  2,050  Younger  65,000        65,000  Merry Maids  5,900        5,900  Acher  12,000  6,400      18,400  Totals  $127,500  $13,750  $3,700  $1,050  $146,000  Uncollectible percentage  2%  10%  20%  40%   Estimated uncollectible  amount  $2,550  $1,375  $740  $420  $5,085    Required:  How much will the…