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4. Improvements were made to the leased building on 01.May.2019 at a cost of $ 500,000. The estimated life of the improvement is 20 years.
4. Improvements were made to the leased building on 01.May.2019 at a cost of $ 500,000. The estimated life of the improvement is 20 years. Lease contract terminates on 31.12.2035. Make necessary entries as of 01.05.2019, 31.12.2019 and 31.12.2020. 5. Make necessary entries for the following. a) $500 receivables of XYZ Co. is proved to be doubtful which $200 of it is granted portion. b) XYZ Co. collected $350. c) XYZ Co. collected $50 more and the rest is proved to be uncollectable. 6. The company pledged its $10,000 notes receivables to a bank and received a loan of $8,000. The note is paid on the maturity. (Ignore interest expense) 7. The company discounted its notes receivables for $5,000 and collected $4,300. This note is not paid on maturity. (Protest fee $2) 8. The company gave its $20,000 note receivable to a bank for collection. The note is not paid on maturity. Bank protested the note on behalf of the company and credited nottery public fee from company's account for S4
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