AutoSave & s Chapter 9 Lab-Students (1) Draw Page Layout Formulas Data Review Vie Calibri (Body) Home Insert X Cut UC Paste Form A1 14 A A = O A ES BI fx CHAPTER 9 LAB CHAPTER 9 LAB 1. Prepare the journal entries to record the transactions and events of AC/DC on the transactions tab. Use the tab to journalize the transactions 2. Prepare a year-end adjusting journal entry as of December 31, 2018 for each separate situation use the "AE tab to journalize the adjustment) (a) Bad debts are estimated to be $16,800 by an analysis of the A/R aging. The unadjusted balance in the allowance for doubtful accounts is a debit of $1,000 (b) Bad debts are estimated to be 1 of its credit sales of $1.500.000 The unadjusted balance in the allowance for doubtful accounts is a credit of $1,000 Home View Draw Page Layout Calbes (Body Formulas Data -14 AA Review = = P o u Test General puf 1 Accepted a $9.600, 90 day, 8% note in granting Sam Darnold a time extension on his past due account receivable 31 Made an adjusting entry to record the accrued interest on the Darnold note. 30 Received Darnold's payment for principle and interest on the note dated Nov 1. 28 Received $5,000 cash and accepted a $6.000, 60 day, 10% note from Leveon Bellin exchange for merchandise that sells for $11,000 (the cost of sale was $6,000). Accepted an $8,000, 60 day, 15% note from Adam Gase in exchange for merchandise that sells for $8.000(the cost of sale was 55.000 Completed a $6,000 credit card sale with a 1% fee (the cost of sales was $3,200). The cash is transferred immediately from the credit card company Mar 30 Leveon Bell dishonored the $6,000 note. Apr 30 Received Gase's payment for principle and interest on the note dated Mar 1. May 1 Wrote-off a $2,500 account receivable arising from a sale to Woody Johnson that dates 10 months ago AC/DC uses the allowance method May 31 Receives the full amount of $2,500 from Woody Johnson that was previously written off on May 1 Record the bad debts recovery Jun 21 Received a $15,000, 90 day, 10% note from Robbie Anderson in exchange for merchandise that sells for $15.000 (the cost of sale was $7,500) Sep 19 Received Anderson's payment for principle and interest on the note dated June 21. Requirement Transaction JE AJE esc BI Chapter 9 Lab Students (13 1) sert Home Draw View Page Layout Formulas Data Review LU Ceny G wtes Tor e Cost or Sure was Sep 19 Received Anderson's payment for principle and interest on the note dated June 21. 130 Completed a $4,000 credit card sale with a 2% fee (the cost of sales was $2,000). The cash is transferred immediately from the credit card company Nov 30 Wrote-off Bell's account against the allowance for doubtful accounts DOBI V Chapter Lab Students (um Home Insert Out Draw Page Layout Calibri (Bodyl Formulas 14A Data A Review IS View P w Test Aunosaver ABE SU Home View Formulas Data 11 A A A A Review = Insert Draw Page Layout X Cut Calibri (Body) 0 copy ~ Format BTUE x fx Wrap Text Merge & Center L Paste B33 DATE DEBIT CREDIT Requirement Transactions JE
