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G what is the purpose of a cover le X Question 1 - W4: CNECT - Conne X ' Dashboard X + X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fmybsc.bryantst... A" G W4: CNECT - Connect Assignment 4 i Saved Help Save & Exit Submit Check my work Levine Company uses the perpetual inventory system. April 8 Sold merchandise for $9,400 (that had cost $6,947) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% 11.11 fee. points April 12 Sold merchandise for $9,400 (that had cost $6,091) and accepted the customer's Continental Card. Continental charges a 2.5% fee. Prepare journal entries to record the above credit card transactions of Levine Company. (Round your answers to the nearest whole eBook dollar amount.) Hint Print View transaction list References Journal entry worksheet 1 2 3 4 V Sold merchandise for $9,400 and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee. Note: Enter debits before credits. Date General Journal Debit Credit Mc Graw Hill 72 F a 1:50 PM Partly sunny 10/12/2022G what is the purpose of a cover le X Question 1 - W4: CNECT - Conne X : Dashboard X + X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fmybsc.bryantst... A" G W4: CNECT - Connect Assignment 4 i Saved Help Save & Exit Submit Check my work Levine Company uses the perpetual inventory system. April 8 Sold merchandise for $9,400 (that had cost $6,947) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% 11.11 fee. points April 12 Sold merchandise for $9,400 (that had cost $6,091) and accepted the customer's Continental Card. Continental charges a 2.5% fee. eBook Prepare journal entries to record the above credit card transactions of Levine Company. (Round your answers to the nearest whole dollar amount.) Hint Print View transaction list References Journal entry worksheet Hill 72 F a 1:50 PM Partly sunny O 10/12/2022G what is the purpose of a cover le X Question 1 - W4: CNECT - Conne X Dashboard X + X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=08launchUrl=https%253A%252F%252Fmybsc.bryantst... A" G W4: CNECT - Connect Assignment 4 i Saved Help Save & Exit Submit Check my work Levine Company uses the perpetual inventory system. April 8 Sold merchandise for $9,400 (that had cost $6,947) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% 11.11 fee. points April 12 Sold merchandise for $9,400 (that had cost $6,091) and accepted the customer's Continental Card. Continental charges a 2.5% fee. Prepare journal entries to record the above credit card transactions of Levine Company. (Round your answers to the nearest whole eBook dollar amount.) Hint Print View transaction list References Journal entry worksheet Hill 72 F a 1:50 PM Partly sunny 10/12/2022G what is the purpose of a cover le X Question 1 - W4: CNECT - Conne X Dashboard X + X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=08launchUrl=https%253A%252F%252Fmybsc.bryantst... A" G W4: CNECT - Connect Assignment 4 i Saved Help Save & Exit Submit Check my work Levine Company uses the perpetual inventory system. April 8 Sold merchandise for $9,400 (that had cost $6,947) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% 11.11 fee. points April 12 Sold merchandise for $9,400 (that had cost $6,091) and accepted the customer's Continental Card. Continental charges a 2.5% fee. Prepare journal entries to record the above credit card transactions of Levine Company. (Round your answers to the nearest whole eBook dollar amount.) Hint Print View transaction list References Journal entry worksheet Hill 72 F a 1:50 PM Partly sunny O 10/12/2022G what is the purpose of a cover le X Question 2 - W4: CNECT - Conne X Dashboard X + X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fmybsc.bryantst... A" G W4: CNECT - Connect Assignment 4 i Saved Help Save & Exit Submit Check my work 2 Grande Company had credit sales of $50,000 in the current period. Accounts Receivable had a beginning balance of $11,500 and an ending balance of $14,000. Compute its cash collections from its credit sales for the current period. 11.11 points Cash collections eBook Hint Print References Mc Graw Hill 72 F a 1:50 PM Partly sunny 10/12/2022G what is the purpose of a cover le X Question 3 - W4: CNECT - Conne X . Dashboard X + X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fmybsc.bryantst... A" G W4: CNECT - Connect Assignment 4 i Saved Help Save & Exit Submit Check my work 3 Dexter Company uses the direct write-off method. March 11 Dexter determines that it cannot collect $8,700 of its accounts receivable from Leer Company. 11.11 March 29 Leer Company unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt. points Prepare journal entries to record the above transactions. eBook View transaction list Hint Print Journal entry worksheet References 2 3 Record write-off of Leer Company account. Note: Enter debits before credits. Date General Journal Debit Credit March 11 Mc Graw Hill 72 F a Partly sunny O 1:50 PM 10/12/2022G what is the purpose of a cover le X Question 3 - W4: CNECT - Conne X Dashboard X + X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fmybsc.bryantst... A" G W4: CNECT - Connect Assignment 4 i Saved Help Save & Exit Submit Check my work 3 Dexter Company uses the direct write-off method. March 11 Dexter determines that it cannot collect $8,700 of its accounts receivable from Leer Company. 11.11 March 29 Leer Company unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt. points Prepare journal entries to record the above transactions. eBook View transaction list Hint Print Journal entry worksheet References Hill 72 F a 1:50 PM Partly sunny O 10/12/2022G what is the purpose of a cover le X Question 3 - W4: CNECT - Conne X "Dashboard X + X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fmybsc.bryantst... A" G W4: CNECT - Connect Assignment 4 i Saved Help Save & Exit Submit Check my work 3 Dexter Company uses the direct write-off method. March 11 Dexter determines that it cannot collect $8,700 of its accounts receivable from Leer Company. 11.11 March 29 Leer Company unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt. points Prepare journal entries to record the above transactions. eBook View transaction list Hint Print Journal entry worksheet References Hill 72 F O a 1:50 PM Partly sunny 10/12/2022G what is the purpose of a cover le X Question 4 - W4: CNECT - Conne X Dashboard X + X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fmybsc.bryantst... A" G W4: CNECT - Connect Assignment 4 i Saved Help Save & Exit Submit Check my work 4 On January 1, Wei Company begins the accounting period with a $43,000 credit balance in Allowance for Doubtful Accounts. 11.11 a. On February 1, the company determined that $9,400 in customer accounts was uncollectible; specifically, $2,200 for Oakley points Company and $7,200 for Brookes Company Prepare the journal entry to write off those two accounts. b. On June 5, the company unexpectedly received a $2,200 payment on a customer account, Oakley Company, that had previously been written off in part a. Prepare the entries to reinstate the account and record the cash received. eBook Print References View transaction list Journal entry worksheet 2 3 On February 1, the company determined that $9,400 in customer accounts was uncollectible; specifically, $2,200 for Oakley Company and $7,200 for Brookes Company. Prepare the journal entry to write off those two accounts. Note: Enter debits before credits. Date General Journal Debit Credit Mc Graw Hill 72 F 1:51 PM a Partly sunny O 10/12/2022G what is the purpose of a cover le X Question 4 - W4: CNECT - Conne X ! : Dashboard X + X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=08launchUrl=https%253A%252F%252Fmybsc.bryantst... A" G W4: CNECT - Connect Assignment 4 i Saved Help Save & Exit Submit Check my work 4 On January 1, Wei Company begins the accounting period with a $43,000 credit balance in Allowance for Doubtful Accounts. 11.11 a. On February 1, the company determined that $9,400 in customer accounts was uncollectible; specifically, $2,200 for Oakley points Company and $7,200 for Brookes Company Prepare the journal entry to write off those two accounts. b. On June 5, the company unexpectedly received a $2,200 payment on a customer account, Oakley Company, that had previously been written off in part a. Prepare the entries to reinstate the account and record the cash received. eBook Print References View transaction list Journal entry worksheet Hill 72 F Partly sunny O 1:51 PM a 10/12/2022G what is the purpose of a cover le X Question 4 - W4: CNECT - Conne X Dashboard X + X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fmybsc.bryantst... A" G W4: CNECT - Connect Assignment 4 i Saved Help Save & Exit Submit Check my work 4 On January 1, Wei Company begins the accounting period with a $43,000 credit balance in Allowance for Doubtful Accounts. 11.11 a. On February 1, the company determined that $9,400 in customer accounts was uncollectible; specifically, $2,200 for Oakley points Company and $7,200 for Brookes Company Prepare the journal entry to write off those two accounts. b. On June 5, the company unexpectedly received a $2,200 payment on a customer account, Oakley Company, that had previously been written off in part a. Prepare the entries to reinstate the account and record the cash received. eBook Print References View transaction list Journal entry worksheet Hill 72 F Partly sunny O a 1:51 PM 10/12/2022G what is the purpose of a cover le X Question 5 - W4: CNECT - Conne X * Dashboard X + X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=08launchUrl=https%253A%252F%252Fmybsc.bryantst... A" G W4: CNECT - Connect Assignment 4 i Saved Help Save & Exit Submit Check my work 5 In its first year of operations, Cloudbox has credit sales of $202,000. Its year-end balance in accounts receivable is $10,200, and the company estimates that $1,600 of its accounts receivable is uncollectible. 11.11 a. Prepare the year-end adjusting entry to estimate bad debts expense. points b. Prepare the current assets section of Cloudbox's classified balance sheet assuming Inventory is $22,500, Cash is $14,500, and Prepaid Rent is $3,050. Note: The company reports Accounts receivable, net on the balance sheet. eBook Complete this question by entering your answers in the tabs below. Hint Print Required A Required B References Prepare the year-end adjusting entry to estimate bad debts expense. View transaction list Journal entry worksheet Record the year-end adjusting entry to estimate bad debts expense. Mc Graw Hill 72 F a 1:51 PM Partly sunny O 10/12/2022G what is the purpose of a cover le X Question 5 - W4: CNECT - Conne X : . Dashboard X + X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=08launchUrl=https%253A%252F%252Fmybsc.bryantst... A" G W4: CNECT - Connect Assignment 4 i Saved Help Save & Exit Submit Check my work 5 In its first year of operations, Cloudbox has credit sales of $202,000. Its year-end balance in accounts receivable is $10,200, and the company estimates that $1,600 of its accounts receivable is uncollectible 11.11 a. Prepare the year-end adjusting entry to estimate bad debts expense. points b. Prepare the current assets section of Cloudbox's classified balance sheet assuming Inventory is $22,500, Cash is $14,500, and Prepaid Rent is $3,050. Note: The company reports Accounts receivable, net on the balance sheet. eBook Complete this question by entering your answers in the tabs below. Hint Print References Required A Required B Prepare the current assets section of Cloudbox's classified balance sheet assuming Inventory is $22,500, Cash is $14,500, and Prepaid Rent is $3,050. Note: The company reports Accounts receivable, net on the balance sheet. CLOUDBOX Balance Sheet Assets Current assets Mc Graw Hill 72 F a 1:51 PM Partly sunny 10/12/2022G what is the purpose of a cover le X Question 6 - W4: CNECT - Conne X "Dashboard X + X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fmybsc.bryantst... A" G W4: CNECT - Connect Assignment 4 i Saved Help Save & Exit Submit Check my work 6 Helix reported the following information in its financial statements. Write-offs of accounts receivable were $260 in the current year. Helix did not recover any write-offs. 11.11 At December 31 Current Year Prior Year points Accounts receivable $ 6, 206 $ 4,600 Allowance for doubtful accounts 520 410 Accounts receivable, net $ 5,680 $ 4,190 eBook Determine Bad Debts Expense for the current year. Print References Bad debts expense Mc Graw Hill 72 F a 1:51 PM Partly sunny 10/12/2022G what is the purpose of a cover le X Question 7 - W4: CNECT - Conne X Dashboard X + X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fmybsc.bryantst... A" G W4: CNECT - Connect Assignment 4 i Saved Help Save & Exit Submit Check my work 7 Warner Company's year-end unadjusted trial balance shows accounts receivable of $105,000, allowance for doubtful accounts of $660 (credit), and sales of $340,000. Uncollectibles are estimated to be 1% of sales. 11.11 Prepare the December 31 year-end adjusting entry for uncollectibles. points View transaction list eBook Hint Journal entry worksheet Print References Record the estimate of uncollectibles. Note: Enter debits before credits. Date General Journal Debit Credit December 31 Mc Graw Hill 72 F 1:52 PM a Partly sunny 10/12/2022G what is the purpose of a cover le X Question 8 - W4: CNECT - Conne X . Dashboard X + X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fmybsc.bryantst... A" G W4: CNECT - Connect Assignment 4 i Saved Help Save & Exit Submit Check my work 8 Mazie Supply Company uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $123,000, and it estimates that 3% will be uncollectible. 11.11 Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts points has: (a) a $2,091 credit balance before the adjustment. eBook (b) a $615 debit balance before the adjustment. Hint Print View transaction list References Journal entry worksheet 2 V Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has a $2,091 credit balance before the adjustment. Note: Enter debits before credits. Transaction General Journal Debit Credit Mc Graw Hill 72 F a 1:52 PM Partly sunny 10/12/2022G what is the purpose of a cover le X Question 8 - W4: CNECT - Conne X Dashboard X + X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fmybsc.bryantst... A" G W4: CNECT - Connect Assignment 4 i Saved Help Save & Exit Submit Check my work 8 Mazie Supply Company uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $123,000, and it estimates that 3% will be uncollectible. 11.11 Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts points has: (a) a $2,091 credit balance before the adjustment. eBook (b) a $615 debit balance before the adjustment. Hint Print View transaction list References Journal entry worksheet Hill 72 F 1:52 PM a Partly sunny 10/12/2022G what is the purpose of a cover le X Question 9 - W4: CNECT - Conne X Dashboard X + X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fmybsc.bryantst... A" G W4: CNECT - Connect Assignment 4 i Saved Help Save & Exit Submit Check my work 9 At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales $ 910,000 11.12 Credit sales 310, 000 points Its year-end unadjusted trial balance includes the following items. eBook Accounts receivable $ 135, 090 debit Allowance for doubtful accounts 6,000 debit Hint Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be (1) 5% of credit sales, (2) 3% of Print total sales and (3) 8% of year-end accounts receivable. References View transaction list Journal entry worksheet 2 3 V Record Bad Debts Expense assuming uncollectibles are estimated to be 5% of credit sales. Mc Graw Hill 72 F a 1:52 PM W Partly sunny 10/12/2022G what is the purpose of a cover le X Question 9 - W4: CNECT - Conne X Dashboard X + X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fmybsc.bryantst... A" G W4: CNECT - Connect Assignment 4 i Saved Help Save & Exit Submit Check my work 9 At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales $ 910,000 11.12 Credit sales 310, 000 points Its year-end unadjusted trial balance includes the following items. eBook Accounts receivable $ 135, 090 debit Allowance for doubtful accounts 6,000 debit Hint Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be (1) 5% of credit sales, (2) 3% of Print total sales and (3) 8% of year-end accounts receivable. References View transaction list Journal entry worksheet Hill 72 F a 1:52 PM W Partly sunny 10/12/2022G what is the purpose of a cover le X Question 9 - W4: CNECT - Conne X ! * Dashboard X + X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fmybsc.bryantst... A" G W4: CNECT - Connect Assignment 4 i Saved Help Save & Exit Submit Check my work 9 Accounts receivable $ 135, 000 debit Allowance for doubtful accounts 6,000 debit Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be (1) 5% of credit sales, (2) 3% of 11.12 points total sales and (3) 8% of year-end accounts receivable. eBook View transaction list Hint Print Journal entry worksheet References Hill 72 F a 1:52 PM W Partly sunny 10/12/2022