The closing balance required in the allowance for uncollectible accounts at year-end. Given Information : Credit sale is $45,000,000. Closing accounts receivables $3,189,000. Unadjusted balance in allowance for uncollectible accounts is $348,810.

Question

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Answer 1

Question

Chapter 9, Problem 9.5P

a.

To determine

The closing balance required in the allowance for uncollectible accounts at year-end.

Given Information:

Credit sale is $45,000,000.

Closing accounts receivables $3,189,000.

Unadjusted balance in allowance for uncollectible accounts is $348,810.

b.

To determine

To prepare: The journal entry for recording bad debt provision.

Given Information:

Credit sale is $45,000,000.

Closing accounts receivables $3,189,000.

Unadjusted balance in allowance for uncollectible accounts is $348,810.

c.

To determine

To prepare: Journal entry to record bad debt expense.

Given Information:

Credit sale is $45,000,000.

Closing accounts receivables $3,189,000.

Unadjusted balance in allowance for uncollectible accounts is $331,000 Debit.

d.

To determine

To prepare: The journal entry to record the bad debt provision.

Given information:

Net credit sale is $45,000,000.

e.

To determine

To prepare: The Journal entry to write off accounts.

Given information:

Accounts receivables of over 90 days past due are $808,412.

Accounts recovered subsequently are $789,412.

f.

To determine

To prepare: The Journal entry to record the recovery of accounts subsequently.

Given information:

Accounts receivables of over 90 days past due are $808,412.

Accounts recovered subsequently are $789,412.

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Answer 2

Question

Chapter 9, Problem 9.5P

a.

To determine

The closing balance required in the allowance for uncollectible accounts at year-end.

Given Information:

Credit sale is $45,000,000.

Closing accounts receivables $3,189,000.

Unadjusted balance in allowance for uncollectible accounts is $348,810.

b.

To determine

To prepare: The journal entry for recording bad debt provision.

Given Information:

Credit sale is $45,000,000.

Closing accounts receivables $3,189,000.

Unadjusted balance in allowance for uncollectible accounts is $348,810.

c.

To determine

To prepare: Journal entry to record bad debt expense.

Given Information:

Credit sale is $45,000,000.

Closing accounts receivables $3,189,000.

Unadjusted balance in allowance for uncollectible accounts is $331,000 Debit.

d.

To determine

To prepare: The journal entry to record the bad debt provision.

Given information:

Net credit sale is $45,000,000.

e.

To determine

To prepare: The Journal entry to write off accounts.

Given information:

Accounts receivables of over 90 days past due are $808,412.

Accounts recovered subsequently are $789,412.

f.

To determine

To prepare: The Journal entry to record the recovery of accounts subsequently.

Given information:

Accounts receivables of over 90 days past due are $808,412.

Accounts recovered subsequently are $789,412.

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Answer 3

Question

Chapter 9, Problem 9.5P

a.

To determine

The closing balance required in the allowance for uncollectible accounts at year-end.

Given Information:

Credit sale is $45,000,000.

Closing accounts receivables $3,189,000.

Unadjusted balance in allowance for uncollectible accounts is $348,810.

b.

To determine

To prepare: The journal entry for recording bad debt provision.

Given Information:

Credit sale is $45,000,000.

Closing accounts receivables $3,189,000.

Unadjusted balance in allowance for uncollectible accounts is $348,810.

c.

To determine

To prepare: Journal entry to record bad debt expense.

Given Information:

Credit sale is $45,000,000.

Closing accounts receivables $3,189,000.

Unadjusted balance in allowance for uncollectible accounts is $331,000 Debit.

d.

To determine

To prepare: The journal entry to record the bad debt provision.

Given information:

Net credit sale is $45,000,000.

e.

To determine

To prepare: The Journal entry to write off accounts.

Given information:

Accounts receivables of over 90 days past due are $808,412.

Accounts recovered subsequently are $789,412.

f.

To determine

To prepare: The Journal entry to record the recovery of accounts subsequently.

Given information:

Accounts receivables of over 90 days past due are $808,412.

Accounts recovered subsequently are $789,412.

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Answer 4

Question

Chapter 9, Problem 9.5P

a.

To determine

The closing balance required in the allowance for uncollectible accounts at year-end.

Given Information:

Credit sale is $45,000,000.

Closing accounts receivables $3,189,000.

Unadjusted balance in allowance for uncollectible accounts is $348,810.

b.

To determine

To prepare: The journal entry for recording bad debt provision.

Given Information:

Credit sale is $45,000,000.

Closing accounts receivables $3,189,000.

Unadjusted balance in allowance for uncollectible accounts is $348,810.

c.

To determine

To prepare: Journal entry to record bad debt expense.

Given Information:

Credit sale is $45,000,000.

Closing accounts receivables $3,189,000.

Unadjusted balance in allowance for uncollectible accounts is $331,000 Debit.

d.

To determine

To prepare: The journal entry to record the bad debt provision.

Given information:

Net credit sale is $45,000,000.

e.

To determine

To prepare: The Journal entry to write off accounts.

Given information:

Accounts receivables of over 90 days past due are $808,412.

Accounts recovered subsequently are $789,412.

f.

To determine

To prepare: The Journal entry to record the recovery of accounts subsequently.

Given information:

Accounts receivables of over 90 days past due are $808,412.

Accounts recovered subsequently are $789,412.

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Answer 5

Chapter 9, Problem 9.5P

a.

To determine

The closing balance required in the allowance for uncollectible accounts at year-end.

Given Information:

Credit sale is $45,000,000.

Closing accounts receivables $3,189,000.

Unadjusted balance in allowance for uncollectible accounts is $348,810.

b.

To determine

To prepare: The journal entry for recording bad debt provision.

Given Information:

Credit sale is $45,000,000.

Closing accounts receivables $3,189,000.

Unadjusted balance in allowance for uncollectible accounts is $348,810.

c.

To determine

To prepare: Journal entry to record bad debt expense.

Given Information:

Credit sale is $45,000,000.

Closing accounts receivables $3,189,000.

Unadjusted balance in allowance for uncollectible accounts is $331,000 Debit.

d.

To determine

To prepare: The journal entry to record the bad debt provision.

Given information:

Net credit sale is $45,000,000.

e.

To determine

To prepare: The Journal entry to write off accounts.

Given information:

Accounts receivables of over 90 days past due are $808,412.

Accounts recovered subsequently are $789,412.

f.

To determine

To prepare: The Journal entry to record the recovery of accounts subsequently.

Given information:

Accounts receivables of over 90 days past due are $808,412.

Accounts recovered subsequently are $789,412.

Answer 6

Chapter 9, Problem 9.5P

a.

To determine

The closing balance required in the allowance for uncollectible accounts at year-end.

Given Information:

Credit sale is $45,000,000.

Closing accounts receivables $3,189,000.

Unadjusted balance in allowance for uncollectible accounts is $348,810.

Answer 7

Chapter 9, Problem 9.5P

a.

To determine

The closing balance required in the allowance for uncollectible accounts at year-end.

Given Information:

Credit sale is $45,000,000.

Closing accounts receivables $3,189,000.

Unadjusted balance in allowance for uncollectible accounts is $348,810.

Answer 8

b.

To determine

To prepare: The journal entry for recording bad debt provision.

Given Information:

Credit sale is $45,000,000.

Closing accounts receivables $3,189,000.

Unadjusted balance in allowance for uncollectible accounts is $348,810.

Answer 9

b.

To determine

To prepare: The journal entry for recording bad debt provision.

Given Information:

Credit sale is $45,000,000.

Closing accounts receivables $3,189,000.

Unadjusted balance in allowance for uncollectible accounts is $348,810.

Answer 10

c.

To determine

To prepare: Journal entry to record bad debt expense.

Given Information:

Credit sale is $45,000,000.

Closing accounts receivables $3,189,000.

Unadjusted balance in allowance for uncollectible accounts is $331,000 Debit.

Answer 11

c.

To determine

To prepare: Journal entry to record bad debt expense.

Given Information:

Credit sale is $45,000,000.

Closing accounts receivables $3,189,000.

Unadjusted balance in allowance for uncollectible accounts is $331,000 Debit.

Answer 12

d.

To determine

To prepare: The journal entry to record the bad debt provision.

Given information:

Net credit sale is $45,000,000.

Answer 13

d.

To determine

To prepare: The journal entry to record the bad debt provision.

Given information:

Net credit sale is $45,000,000.

Answer 14

e.

To determine

To prepare: The Journal entry to write off accounts.

Given information:

Accounts receivables of over 90 days past due are $808,412.

Accounts recovered subsequently are $789,412.

Answer 15

e.

To determine

To prepare: The Journal entry to write off accounts.

Given information:

Accounts receivables of over 90 days past due are $808,412.

Accounts recovered subsequently are $789,412.

Answer 16

f.

To determine

To prepare: The Journal entry to record the recovery of accounts subsequently.

Given information:

Accounts receivables of over 90 days past due are $808,412.

Accounts recovered subsequently are $789,412.

Answer 17

f.

To determine

To prepare: The Journal entry to record the recovery of accounts subsequently.

Given information:

Accounts receivables of over 90 days past due are $808,412.

Accounts recovered subsequently are $789,412.

Answer 18

Expert Solution & Answer

Answer 19

Expert Solution & Answer

Answer 20

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Answer 21

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The closing balance required in the allowance for uncollectible accounts at year-end. Given Information : Credit sale is $45,000,000. Closing accounts receivables $3,189,000. Unadjusted balance in allowance for uncollectible accounts is $348,810.

The closing balance required in the allowance for uncollectible accounts at year-end. Given Information: Credit sale is $45,000,000. Closing accounts receivables $3,189,000. Unadjusted balance in allowance for uncollectible accounts is $348,810.

To prepare: The journal entry for recording bad debt provision. Given Information: Credit sale is $45,000,000. Closing accounts receivables $3,189,000. Unadjusted balance in allowance for uncollectible accounts is $348,810.

To prepare: Journal entry to record bad debt expense. Given Information: Credit sale is $45,000,000. Closing accounts receivables $3,189,000. Unadjusted balance in allowance for uncollectible accounts is $331,000 Debit.

To prepare: The journal entry to record the bad debt provision. Given information: Net credit sale is $45,000,000.

To prepare: The Journal entry to write off accounts. Given information: Accounts receivables of over 90 days past due are $808,412. Accounts recovered subsequently are $789,412.

To prepare: The Journal entry to record the recovery of accounts subsequently. Given information: Accounts receivables of over 90 days past due are $808,412. Accounts recovered subsequently are $789,412.

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Chapter 9 Solutions

The closing balance required in the allowance for uncollectible accounts at year-end.

Given Information:

Credit sale is $45,000,000.

Closing accounts receivables $3,189,000.

Unadjusted balance in allowance for uncollectible accounts is $348,810.

To prepare: The journal entry for recording bad debt provision.

Given Information:

Credit sale is $45,000,000.

Closing accounts receivables $3,189,000.

Unadjusted balance in allowance for uncollectible accounts is $348,810.

To prepare: Journal entry to record bad debt expense.

Given Information:

Credit sale is $45,000,000.

Closing accounts receivables $3,189,000.

Unadjusted balance in allowance for uncollectible accounts is $331,000 Debit.

To prepare: The journal entry to record the bad debt provision.

Given information:

Net credit sale is $45,000,000.

To prepare: The Journal entry to write off accounts.

Given information:

Accounts receivables of over 90 days past due are $808,412.

Accounts recovered subsequently are $789,412.

To prepare: The Journal entry to record the recovery of accounts subsequently.

Given information:

Accounts receivables of over 90 days past due are $808,412.

Accounts recovered subsequently are $789,412.