Question
Entries for uncollectible accounts, using direct write-off method Instructions Chart of Accounts Journal X Instructions Jan. 19 Sold merchandise on account to Dr. Kyle Norby,
Entries for uncollectible accounts, using direct write-off method
Instructions
Chart of Accounts
Journal
X
Instructions
Jan. | 19 | Sold merchandise on account to Dr. Kyle Norby, $17,960. The cost of the goods sold was $9,990. |
June | 2 | Received $5,530 from Dr. Kyle Norby and wrote off the remainder owed on the sale of January 19 as uncollectible. |
Oct. | 23 | Reinstated the account of Dr. Kyle Norby that had been written off on June 2 and received $12,430 cash in full payment. |
Journalize the above transactions in the accounts of Canyon River Medical Co., a medical equipment company that uses the direct write-off method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account titles.
CHART OF ACCOUNTS | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Canyon River Medical Co. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
General Ledger | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Journalize the above transactions in the accounts of Canyon River Medical Co., a medical equipment company that uses the direct write-off method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account titles. X Chart of Accounts
X Journal
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