College Accounting (Book Only): A Career Approach
13th Edition
ISBN: 9781337280570
Author: Scott, Cathy J.
Publisher: South-Western College Pub
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Chapter B, Problem 2P
Hardy’s Landscape Service’s total revenue on account for 2018 amounted to $273,205. The company, which uses the allowance method, estimates
Required
Journalize the following selected entries:
2012
Dec. 12 Record services performed on account for E. E. Morton, $245.
31 Record the
31 Record the closing entry for Bad Debts Expense.
2013
Feb. 18 Write off the account of E. E. Morton as uncollectible, $245.
Check Figure
Adjusting entry amount,
$1,366.03
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Nillson's Nursery uses the direct write-off method for recording bad debts.
Required:
Journalize the following selected entries:
2012
Apr. 10 Write off the account P.A. Seldon as uncollectible, $458.
July. 27 Write off the account of J.M. Weller as uncollectible, $268.
Hardy's Landscape Service's total revenue on account for 2018 amounted to $273,205. The company, which uses the allowances method, estimates bad debts at 1/2 percent of total revenue on account.
Required:
Journalize the following selected entries:
2012
Dec. 12 Record services performed on account for E.E. Morton, $245.
Dec. 31 Record the adjusting entry for Bad Debts Expense.
Dec. 31 Record the closing entry for Bad Debts Expense.
2013
Feb. 18 Write off the account of E.E. Morton as uncollectible, $245.
T.J. Race Company uses the direct write-off method for recording Bad Debts Expense. At the beginning of 2018, Accounts Receivable has a $118,000 balance Joumalize the following transactions
for T.J. Race:
(Click the icon to view the transactions.)
(Record debits first, then credits. Exclude explanations from journal entries.)
March 13, 2018: Wrote off S. Rose's account for $1,800.
Journal Entry
Date
Mar.
2018
13
Accounts
PR
Dr.
Cocom
Cr.
More info
2018
Mar.
Apr
2019
Nov.
Dec.
Ded
13 Wrote off S. Rose's account for $1,800,
14 Wrote off P. Soy's account for $650
8 P. Soy paid bad debts of $650 that was written off April 14, 2018
7 Wrote off J. Minor's account as uncollectible, $300.
12 Wrote off D. Lovejoy's account for $350 due from sales made on
account in 2018
Print
Done
Chapter B Solutions
College Accounting (Book Only): A Career Approach
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