Interactive Planning Software uses the direct charge-off method to account for uncollectible accounts expenses as they occur.

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Interactive Planning Software uses the direct charge-off method to account for uncollectible accounts expenses as they occur. Selected transactions for 2019 and 2020 follow. The accounts involved are Accounts Receivable, Notes Receivable, and Uncollectible Accounts Expense. Record each transaction in general journal form.

TRANSACTIONS DATE 2019 Antonio Castillo, a credit customer, dies owing the firm $6,000. The March 15 account is written

Analyze: When the worksheet is prepared at the end of 2019, what balance should be listed for Uncollectible Accounts Expense? Assume that the transactions given are the only transactions that affected the account.

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College Accounting Chapters 1-30

ISBN: 978-1259631115

15th edition

Authors: John Price, M. David Haddock, Michael Farina

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