Question
Can you please help me? I need the answers for everything At December 31, 2021, the general ledger and subsidiary ledger for Albert's, a small
Can you please help me? I need the answers for everything
At December 31, 2021, the general ledger and subsidiary ledger for Albert's, a small auto parts store, showed the following:
General Ledger | Accounts Receivable Subsidiary Ledger | |||||
Accounts receivable | $69,500 | Best Auto Repair | $4,000 | |||
Allowance for doubtful accounts | 4,100 | Browns Repair | 21,800 | |||
Custom Repair | 0 | |||||
Jens Auto Body | 31,800 | |||||
Luxury Autos | 11,900 | |||||
Total | $69,500 |
Jan. 3 | Browns Repair paid $17,800 on its account. | |
4 | Custom Repair paid $1,400 on its account that had previously been written off. | |
8 | Jens Auto Body purchased $3,700 of merchandise on account. | |
9 | Antique Auto Repair paid cash for $1,500 of merchandise. | |
18 | Jen's Auto Body returned $700 of the merchandise it purchased on Jan. 8. | |
19 | Luxury Autos paid $11,900 on its account. | |
20 | Jens Auto Body paid $26,700 on its account. | |
23 | Browns Repair purchased $5,800 on account. | |
25 | Custom Repair purchased $9,500 of merchandise on Visa. | |
26 | Luxury Autos purchased $16,600 of merchandise on account. | |
31 | Alberts determined that the Best Auto Repair account receivable was not collectible. |
Alberts estimated that 10% of accounts receivable is not collectible. Record the required adjustment to the Allowance for Doubtful Accounts for January of 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Account Titles and Explanation | Debit | Credit |
(To record estimate of uncollectible accounts.) |
List of Accounts
Prepare a list of customers and the balances of their accounts from the subsidiary ledger. Prove that the total of the subsidiary ledger is equal to the control account balance for January of 2022. (Do not leave any answer field blank. Enter 0 for amounts.)
Best Auto Repair | $ | |
Browns Repair | ||
Custom Repair | ||
Jens Auto Body | ||
Luxury Autos | ||
Total subsidiary ledgers | $ | |
Balance equals control account of | $ |
LIST OF ACCOUNTS:
- Accounts Receivable
- Accumulated Depreciation - Equipment
- Accumulated Depreciation - Furniture
- Allowance for Doubtful Accounts
- Bad Debt Expense
- Cash
- Cost of Goods Sold
- Credit Card Expense
- Credit Card Receivable
- Debit Card Expense
- Equipment
- GST/HST Recoverable
- Interest Receivable
- Interest Revenue
- Merchandise Inventory
- Notes Receivable
- Prepaid Expenses
- Prepaid Insurance
- Rent Expense
- Salaries Expense
- Sales
- Sales Discounts
- Sales Returns and Allowances
- Service Revenue
- Short-Term Investments
- Supplies
- Supplies Expense
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