Seerden Servicing monitors its accounts receivable carefully. A review determined that a customer, John Daley, was unable
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Required
Prepare Seerden Servicing's entries for each of the following dates (round calculations to the nearest whole cent):
a. April 15, 2014
b. May 1, 2014
c. May 31, 2014
d. Maturity date of John Daley's note
e. Maturity date of ABC Drilling's note
f. November 15, 2014
Analysis Component:
Assuming a $4,000 debit balance in the Allowance for Doubtful Accounts on November 14, 2014, calculate the balance after posting the entry in (f) above. Comment on the adequacy of the Allowance for Doubtful Accounts.
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Related Book For
Fundamental Accounting Principles
ISBN: 978-0071051507
Volume I, 14th Canadian Edition
Authors: Larson Kermit, Tilly Jensen
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