EX17 4 Lash of Cluny 1. They ning forces Instructions she 8 Instructions 2. Corpuse the wedding balance of counts receivable Compare the area arower for 300 Statement of financial position PRILO 1, 2.41 Al December 31, 2019. Care Medical reported the funds formatie Account the Les Asefe doubtful anu During 2020, the company had the following transactions related to receiras R$8,700.000 50.000 2. Sales returns and an 3. Collection of receivable 2,810,000 4. Writeos of accounts receivable deemed collectible 90.000 5. Rewwery or bad debts previously written off as uncollectible Instructions 2. Prepare the journal entries to record each of these tive transaction. Assume that no cash dice were taken on the collections of accounts receivable b. Enter the lary 1, 2, balances in Accmures Receivable and Allowance for Doubtful.com post the entries to the two count ( T-accounts), and determine the balances c. Prepare the jumal entry to record bad debt enpense for 2000, assuming that an aging of acco receivable indicates that expected bad debts are R$115.000 Vd. Compute the accounts receivable turnover for 2000 assuming the expected bad debt informe provided in ) P8.2 [LO 2) Writing Infoemation related to Mingenback Lid. for 2030 is summarized below Tocal credit sales 2.500.000 Accounts receivable at December 31 875,000 Bad debts written off 33.000 Instructions EX17 4 Lash of Cluny 1. They ning forces Instructions she 8 Instructions 2. Corpuse the wedding balance of counts receivable Compare the area arower for 300 Statement of financial position PRILO 1, 2.41 Al December 31, 2019. Care Medical reported the funds formatie Account the Les Asefe doubtful anu During 2020, the company had the following transactions related to receiras R$8,700.000 50.000 2. Sales returns and an 3. Collection of receivable 2,810,000 4. Writeos of accounts receivable deemed collectible 90.000 5. Rewwery or bad debts previously written off as uncollectible Instructions 2. Prepare the journal entries to record each of these tive transaction. Assume that no cash dice were taken on the collections of accounts receivable b. Enter the lary 1, 2, balances in Accmures Receivable and Allowance for Doubtful.com post the entries to the two count ( T-accounts), and determine the balances c. Prepare the jumal entry to record bad debt enpense for 2000, assuming that an aging of acco receivable indicates that expected bad debts are R$115.000 Vd. Compute the accounts receivable turnover for 2000 assuming the expected bad debt informe provided in ) P8.2 [LO 2) Writing Infoemation related to Mingenback Lid. for 2030 is summarized below Tocal credit sales 2.500.000 Accounts receivable at December 31 875,000 Bad debts written off 33.000 Instructions no P8.1 (LO 1, 2, 4) At December 31, 2019, Catu Medical reported the following information on Jed to bad statement of financial position. R$960,000 Accounts receivable 80,000 Less: Allowance for doubtful accounts During 2020, the company had the following transactions related to receivables. R$3,700,000 2. Sales returns and allowances 50,000 3. Collections of accounts receivable 2.810,000 4. Write-offs of accounts receivable deemed uncollectible 90.000 odnom 29.000 5. Recovery of bad debts previously written off as uncollectible 1. Sales on account Instructions a. Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable. b. Enter the January 1, 2020, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts (use T-accounts), and determine the balances. c. Prepare the journal entry to record bad debt expense for 2020, assuming that an aging of accounts receivable indicates that expected bad debts are R$ 115,000. Vd. Compute the accounts receivable turnover for 2020 assuming the expected bad debt information provided in (c). borc OSOS
