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HELLO, please help ThANK YOU SO MUCH! eBook Print Item Question Content Area Uncollectible AccountsAllowance Method Pyle Nurseries uses the allowance method to record the

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ThANK YOU SO MUCH!

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Uncollectible AccountsAllowance Method

Pyle Nurseries uses the allowance method to record the following transactions, adjusting entries, and closing entries during the year ended December 31, 20--:

Feb. 9Received 70% of the $3,000 balance owed by Wiley's Waterworks, a bankrupt business, and wrote off the remainder as uncollectible.
May 28Reinstated the account of Amanda Akin, which had been written off in the preceding year, and received $2,200 cash in full settlement.
Aug. 16Wrote off the $6,000 balance owed by JoJo Xu as uncollectible.
Oct. 5Reinstated the account of Tomi Kennedy which had been written off in the preceding year, and received $3,100 cash in full settlement.
Dec. 28Wrote off the following accounts as uncollectible, in compound entry form: Jacobs & Wilson, $11,200; Specialty Landscapes, $15,100; Kiana Hoyer, $13,100.
31Based on an aging analysis of the $960,000 of accounts receivable, it was estimated that $50,000 will be uncollectible. Made the adjusting entry.
31Made the entry to close the appropriate account to Income Summary.

Selected accounts and beginning balances on January 1, 20--, are provided.

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1. Enter the transactions and the adjusting and closing entries in a general journal (page 6). Enter the posting references when posting to the selected accounts in requirement 2.

image text in transcribed
1. Enter the transactions and the adjusting and closing entries in a general journal (page 6). Enter the po: Page: 6 DOC. POST. DATE ACCOUNT TITLE DEBIT CREDIT NO. REF. 20-- 1 Feb. 9 2 N 3 Collection on account A w 5 Feb. 9 6 Wrote off uncollectible account 10 00 9 May 28 10 10 11 Reinstated account receivable 11 12 12 13 May 28 13 14 14 15 Collection on account 15 16 16 17 Aug. 16 17 18 18 19 Wrote off uncollectible account 19 20 20 21 Oct. 5 21 22 22 23 Reinstated account receivable 23 24 24 25 Oct. 5 25 26 26 27 Collection on account 27 28 28

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