184.9.3 Laminate Express extended credit to customer Amal Sunderland in the amount of $384,650 for his January 4 purchase of flooring Terms of the sale are 2/30, n/120. The cost of the purchase to Laminate Express 88 On Apr 5, Laminate Express determined that Amal Sunderland's account was uncollectible and wrote off the debt. On June 22, Amal Sunderland unexpectedly paid 30% of the total amount due in carch on account Record each Laminate Express transaction with Anul Sunderland. In order to demonstrate the wee off and then subsequent collection of an account receivable, assume in this example that Laminate Express rarely extends credit directly, so this transaction in perm d to use the direct write off method Remember though, that in most cases the direct write-off method is not allowed. 85.2 Olena Mirrors records bad debt using the allowance, income statement method. They recorded 343,100 in accounts receivable for the year and $577,93 On May 10, Olena Mirrors identites one uncollectible account from the Sweeney in the amount of $2.870 On August 12, Sweeney unexpectedly pays $1,441 toward her account Record journal entries for the wing A Yearnt adjusting entry for 2017 bad debt May 10, 2018 identification entry i Entry for payment on August 12, 2018 1843.2 Olena Mions recents bad debt using the alance, balce sheet method. They recorded $343,160 in accounts receivable for the year and 1577.930 in crede The uncollectible percentage i On June 11. Olena Merors identifies one uncollectible account from Nadia White in the amount of $428. September 14, Nadia Chernoff unexpectedly pays $1.732 toward her account Record journal entries for the following A Year end eating entry for 2017 bad de June 11, 2018 identification entry C Entry for payment on September 14, 2018 87. 13 The wing accounts receivable information pertains to Envelope Experts Fast Du Category Accounts Receivable Total Percentage Uncollectible EB993 using the following select financial statement information from Mover Suppli number of days sales in receivables ratios for 2018 and 2019 (round answers to two deca the outcomes tell a potential investor about Mover Supply Depot if the competition collec 65 days Year MOVER SUPPLY DEPOT Net Credit Sales Ending Accounts Receivab 2017 $1,230,680 $321,500 2018 1477440 345,700 2019 1.724400 126600 EB10.3 Starlight Enterprises has net credit sales for 2019 in the amount of $2.600,325 accounts receivable balance of $844260, and an ending accounts receivable balance of $60- accounts receivable turnover ratio and the number of days' sales in receivables ratio for 201 to two decimal places). What do the outcomes tel a potential investor about Starlight Enter industry average is 1.5 times and the number of days' sales ratio 175 days? 18114 Outpost Designs uses the balance sheet aging method to account for uncollects receivables. The following is the past due category information for outstanding receivable de Accounts receivable amou Percent uncollectible Total per category? Total uncollectib 0-30 days $35,000 10% 31-90 days past due $40,000 Over S past $25 To manage earnings more favorably, Outpost Designs decided to change pest-due categories a 0-60 days past due 61-120 days past due Over 120 post da