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8 Sidwell Corporation had the following transactions in the month of July Transactions begin{tabular}{|l|l|l|r|} hline Jul-02 & Received payment of previously written off account of
8 Sidwell Corporation had the following transactions in the month of July Transactions \begin{tabular}{|l|l|l|r|} \hline Jul-02 & Received payment of previously written off account of & $ & 475 \\ \hline Jul-09 & Received letter that Jones, has gone bankrupt. & & \\ \hline & Decided to write-off Jones account in the amount of & $ & 350 \\ \hline \multirow{2}{*}{ Jul-11 } & Delsing Company owed Sidwell & $ & 2,250 \\ \hline & we received the following amount from Delsing & $ & 1,975 \\ \hline & the rest was written off. i.e. balance of & $ & 275 \\ \hline \end{tabular} a. Prepare the Journal entries for each of the above transactions \begin{tabular}{|l|l|l|l|} \hline Date & Account & Debit & Credit \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} b. Sidwell computes bad debt expense as of credit sales. Credit sales for the month were 180,000 Prepare the journal entry for the bad debt expense on July 31 \begin{tabular}{|l|l|l|l|} \hline Date & Account & Debit & Credit \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} c. In addition to the above transactions, Sidwell received payments \begin{tabular}{|l|r|r|} \hline on accounts receivables of & 168,000 \\ \hline On July 1, Accounts Receivable had a debit balance of & 68,000 \\ \hline On July 1, the Allowance for doubtful accounts had a credit balance of & 3,500 \\ \hline \end{tabular} Compute the ending balance for both the Accounts Receivable and the Allowance for Doubtful Accounts based on the July transactions recorded above and the additional information given. Ending Balance for Accounts Receivable Ending Balance for Allowance for Doubtful Accounts \begin{tabular}{|l|} \hline \\ \hline \end{tabular}
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