Entries for bad debt expense under the direct write-off and allowance methods Instructions Chart of Accounts Journal Final Question Instructions Seaforth International wrote off the following accounts receivable as uncollectible for the year ending December 31 Customer Amount Kim Abel $24,300 Lee Drake 30,600 Jenny Green 29,900 Mike Lamb 17,900 Total $102,700 Instructions Chart of Accounts Journal Final Question Instructions The company prepared the following aging schedule for its accounts receivable on December 31 Aging Class (Number of Days Past Due) Receivables Balance on December 31 Estimated Percent of Uncollectible Accounts 0-30 days $730,000 31-60 days 290,000 61-90 days 114,000 91-120 days 70,000 More than 120 days 92,000 Total receivables $1,296,000 ntries for bad debt expense under the direct write-off and allowance methods Instructions Chart of Accounts Journal Final Question Instructions More than 120 days 92,000 Total receivables $1,296,000 A Journalize the write-offs under the direct write-off method. If no entry is required, simply skip to the next transaction Refer to the Chart of Accounts for exact wording of account titles B. Journalize the write-offs and the year-end adjusting entry under the allowance method, assuming that the allowance account had a beginning balance of 588,300 and the company uses the analysis of receivables method. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles C. How much higher (lower) would Seaforth International's net income have been under the allowance method than under the direct write-off method? Activ Entries for bad debt expense under the direct write off and allowance methods Instructions Chart of Accounts Journal Final Question Journal A. On December 31, journalize the write-offs under the direct write-off method I no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles PAGE 1 JOURNAL DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY Journal 8. On December 31. journalize the write-offs and the year and adjusting entry under the allowance method assuming that the allowance account had a beginning balance of $80 300 and the company uses the analysis of receivables method i no entry is required simply skip to the next transaction Refer to the Chart of Accounts for exact wording of account titles JOURNAL DESCRIPTION POST. REF. DEBIT CREDIT ASSETS ABILITIES EQUITY Entries for bad debt expense under the CCWHLLL diduwall Instructions Chart of Accounts Journal Final Question Journal PAGE 1 JOURNAL DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY Journal Final Question C. How much higher (lower) would Seaforth International's net income have been under the allowance method than under the direct write-off method? by
