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How do you journalize this problem? s: Series B PR 9-1B Entries related to uncollectible accounts fiscal year ended December 31 Jan. 19. Reinstated the
How do you journalize this problem? s: Series B PR 9-1B Entries related to uncollectible accounts fiscal year ended December 31 Jan. 19. Reinstated the account of Arlene Gurley, which had been written off in the were completed by The Wild Trout Gallery during the cument preceding year a payment of Arlene's account uncollectible Journalized the receipt of $2,660 cash in full 3. Wrote off the $12,750 balance owed by Premier GS Co, which is bankupt July 16, Received 29% of the $22,000 balance owed by Hayden Co., a bankrupt business, Apr and wrote off the remainder as uncollectible earlier as uncollectible. Recorded the receipt of $4,000 cash in full payment Fogle Co, $8,100, Lake Furniture, $11,400; Melinda Shryer, $1,200 Nov. 23. Reinstated the account of Harry Car, which had been written of two years Dec. 31. Wrote off the following accounts as uncollectible (one entry): Cavey Co., $3,300 31. Based on an analysis of the $2,350,000 of accounts receivable, it was estimated that $60,000 will be uncollectible. Journalized the adjusting entry Instructions . Record the January I credit balance of $50,000 in a T account for Allowance for Doubt 2. Journalize the transactions. Post each entry that affects the following T accounts and Allowance for Doubeful Accounts ful Accounts determine the new balances: Bad Debe Expense s. Determine t the expected nct realizable value of the accounts receivable as of December 31 uncollectible accounts on an analysis Assuming that instead of basing the provision for unce of receivables the adjusting entry on December 31 had been based on an estimated expense of of 1% of the sales of $15,800,000 for the year, determine the following: a. Bad debt expense for the year b. Balance in the allowance account after the adjustment of December 31. cExpected net realizable value of the accounts receivable as of December 31
How do you journalize this problem?
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