CH. 8 HW- Q # 1

Bacio Soring 2022 CO Price of According Section Alrig 2022.CO ConsegW2 Online chinand barring from Cangre Luming Chapter 8 - Homework Assignment eBook Show Me How Allowance method entries The following transactions were completed by Wind Trout Gallery during the current focal year ended December 31 Jan 19 Reinstated the account of Arlene Gurley, which had been written off in the preceding year as uncollectible Joumalize the receipt of 57.660 cash in full payment of Arlene's account. Apr Wrote of the 512,750 balance owed by Premier GS Co, which is bankrupt Received 25% of the $22,000 balance owed by Hayden Co, bankrupt business, and wrote off the remainder as uncollectie Nov. 23. Reinstated the account of Harry Cars, which had been written off two years earlier as uncollectible. Recorded the receipt of $4,000 ch in full payment Dec 31 Wrote of the following accounts as uncollectible (compound entry): Covey C. $3,300; Fagie C. $3,400, Lake Future, 111,400 Meinda Sheryer, 1.o Dec 31 Based on an anwysis of the $2,350,000 of accounts receivable, it was estimated that $60,000 will be uncollectible. Journalize the adjusting entry Required 1. Recorder anary I credit bancs of $50,000 in account ested below in recurement 2 for Allowance for Douth Account 2. a Southeransaction for a compound transaction, if an amount box does not requirement avec law. Not For De December 31 usting entry, sume the $2,350,000 bance in anunta recrets the woments made during the year Tan. 19e Account ReceivableAreny 2. Allowance for Doubtful Accounts a. 19 colection Cash Accounts Receiver Curly Check My Ayure All worked Em D Sawan Bar submAEG Dhapter 8 - Homework Assignment ebook Show Me How 1. Record the January 1 est balance of 550.000 in a T account presented below in requirement 2b for Allowance for both Accounts 2.1. Soumalize the transactions. For a compound transaction; if an amount box does not require an entry, leave it blank. Note: For the December 31 adjusting entry, assume the $2.350.000 balance acuta able rects the adjustments made during the year Jan 15-reinstate Accounts Receivable-Arlene Garley Allowance for Double Accounts 20 1.40 Sen 19-collection Cash Accounts Receivable-Arlene Gurley Ar 3 13.20 Allowance for Doubtful Accounts Accounts Receivable Premier GS Co. 11.990 July 16 Cash 16. Allowance for Doubtful Accounts Accounts Receivable Hayden Co 4000 Nov 23-te Accounts Receivable Harry Car Allance for Doubtful Accounts 40 Nov. 23.collection Cash Accounts Receivable HarryCare 4,000 Decio Allow for Doubtful Accounts Accounts Receivablet.com Account Reccabi-Fogle C . Check My Work All works Emainstruct Submergent for Gratis Asian Sex Chapter 8 - Homework Assignment ebook Show Me How Nov. 23-collection Cash 4.000 Accounts Receivable-Hamry Car 4.00 Dec 31-w-off Allowance for Doubtful Accounts Accounts Receivable-cancy co Accounts Receivable fostece Accounts Receivable Furniture Accounts Receivable-Melinda Shryer . 11.40 1200 Dec 31-adjusting Bar Del Expense Allowance for Doubtful Accounts 2. b. Posteach entry that affects the following accounts and determine the new balancest Allowance for Doubtful Accounts Apr 12.750 la 1 Balance 50,000 16,500 19 2,660 De NO 4,000 Dec 31 Unadjusted Balance Dec 31 Adjusting Entry Dec 31 Adjusted Balance Check My Work Next > Asier Scores All work ved Emiliare Save and Submit Agent for Grade Q Show Me How Chapter 8 - Homework Assignment eBook Dec. 31 Adjusted tlalance Bad Debt Expense DecAdjusting Entry 3. Determine the expected the value of the accounts receivable as of December 31 (after all of the adjustments and the adjusting entry) 2.290,000 4. Assuming that instead of basing the provision for urenllectible accounts on an analysis of receiveles, the adjusting entry on December It had been based on an estimated expense of 1/2 of 14 or the $15.100.000 for the year, determine the following det expense for the ye b. Balance in the allowance account after the adjustment of December 31 c. pede et reliable value of the accounts receivable as of December 31 (ar all of the adjustments and the dusting entry) Paily come Oh My Wor Next > hester All work saved Sow and Subnavige for a