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Can you sneer this questions? PART V ACCOUNTS RECEIVABLE - UNCOLLECTIBLE ACCOUNTS (points) Instructions: Present the journal entries specified below; show supporting calculations. A. ACCOUNTS

Can you sneer this questions?

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PART V ACCOUNTS RECEIVABLE - UNCOLLECTIBLE ACCOUNTS (points) Instructions: Present the journal entries specified below; show supporting calculations. A. ACCOUNTS RECEIVABLEUNCOLLECTIBLE ACCOUNTS The trial balance of Gannon Company at December 31, 2017 includes the following: Debits Credits Accounts Receivable ................................................................ 100,000 Allowance for Doubtful Accounts .............................................. 500 Sales (all on credit) 800,000 Sales Returns and Allowances ................................................. 30,000 (1) If Gannon uses the aging method and estimates that $4,000 of receivables will be uncollectible, prepare the adjusting entry. (2) If Gannon estimates uncollectibles at 1% of net credit sales, prepare the appropriate adjusting entry. (3) Assume that on February 10, 2018 the specific account of Mark Tresh with a balance of $600, is deemed uncollectible. Record the write-off. (4) Assume that on May 12, 2018 Tresh pays one-half of the above balance in full and is expected to pay the remainder within 30 days. Record the appropriate entries. _

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