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Exercise 9-2 Accounting for credit card sales LO C1 Levine Company uses the perpetual inventory system. Apr. 8 sold merchandise for $6,100 (that had cost $4,508) and accepted the customer's suntrust Bank Card. Suntrust 12 Sold merchandise for $3,800 (that had cost $2,462) and accepted the customer's Continental Card. Continentai charges a 2.58 tee. Prepare journal entries to record the above credit card transactions of Levine Company. (Round your answers to the nearest whole dollar amount.) View transaction list Journal entry worksheet Exercise 9-14 Honoring a note LO P4 Following are transactions for Vitalo Company Nov. 1 Accepted a $6,000, 180-day, 69 note from Kelly White in granting a time extension on her past-due account receivable. Dec. 31 Adjusted the year-end accounts for the accrued interest earned on the white note. Apr. 30 White honored her note when presented for payment. Complete the table to calculate the interest amounts at December 31st and April 30th and use those calculated values to prepare your journal entries. (Do not round intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the tabs below. Interest Amounts General Journal Use those calculated values to prepare your journal entries. View transaction list Journal entry worksheet 2 3 1 > Accepted a $6,000, 180-day, 6% note from Kelly White in granting a time extension on her past-due account receivable Noter Enter debits before credits Date General Journal Debit Credit Problem 9-2A Estimating and reporting bad debts LO P2, P3 [The following information applies to the questions displayed below.) At December 31, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $1,369,500 $3,593,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $1,088,679 debit $ 15,660 debit Problem 9-2A Part 1 Required: 1. Prepare the adjusting entry to record bad debts under each separate assumption. a. Bad debts are estimated to be 3% of credit sales. b. Bad debts are estimated to be 2% of total sales c. An aging analysis estimates that 6% of year-end accounts receivable are uncollectible. Adjusting entries (all dated December 31). (Do not round intermediate calculations.) View transaction list Journal entry worksheet SUU Problem 9-2A Estimating and reporting bad debts LO P2, P3 [The following information applies to the questions displayed below) At December 31, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $1,369,500 $3,593,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts 51,088,679 debit S 15,660 debit Problem 9-2A Part 2 2. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet given the facts in part 1a. Current assots: Required information Problem 9-2A Estimating and reporting bad debts LO P2, P3 (The following information applies to the questions displayed below) At December 31, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $1,369,500 $3,593,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $1,098,679 debit $ 15,660 debit Problem 9-2A Part 3 3. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet given the facts in part 1c (Do not round intermediate calculations.) Current assets