978111941095

a. Prepare the entries to record sales and collections during the period. b. Prepare the entry to record the write-off of uncollectible accounts during the period, c. Prepare the entries to record the recovery of the uncollectible account during the period. d. Prepare the entry to record bad debt expense for the period. e. Determine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts. f. What is the net realizable value of the receivables at the end of the period? E9.5 (LO 2) The ledger of Costello Company at the end of the current year shows Accounts Receivable $110,000, Sales Revenue $840,000, and Sales Returns and Allowances $20,000. Journalize entr allowance for a using two differ Instructions a. If Costello uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at December 31, assuming Costello determines that L. Dole's $1,400 balance is uncollectible. b. If Allowance for Doubtful Accounts has a credit balance of $2,100 in the trial balance, journal- ize the adjusting entry at December 31, assuming bad debts are expected to be 10% of accounts receivable. c. If Allowance for Doubtful Accounts has a debit balance of $200 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 6% of accounts receivable. Determine prepare the E9.6 (LO 2) Godfreid Company has accounts receivable of $95,400 at March 31, 2020. Credit terms are 2/10, n/30. At March 31, 2020, there is a $2,100 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Balance, March 31 Estimated Percentage Exercises JUL Accounts. ts Receivable Journalize entries to record allowance for doubtful accounts using two different bases. Journalize the -00 balance is ance, journal- % of accounts journalize the nts receivable