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********************************************************************************************************************* I missed TWO of these ...but I do not know which two that it is...I just need you to tell me which two that
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I missed TWO of these ...but I do not know which two that it is...I just need you to tell me which two that I missed and give me the correct answer :)
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The Lowery Co. uses the direct write-off method of accounting for uncollectible accounts receivable. Lower/ has a customer whose accounts receivable balance has been determined to likely be uncollectible. The entry to write off this account would be which of the following? Allowance for Doubtful Accounts has a debit balance of $2,300 at the end of the year (before adjustment). The company prepares an analysis of customers' accounts and estimates the amount of uncollectible accounts to be $31,900. Which of the following adjusting entries is needed to record the Bad Debt Expense for the year? Allowance for Doubtful Accounts has a debit balance of SI, 140 at the end of the year (before adjustment), and an analysis of customers' accounts indicates uncollectible receivables of $12,344. which of the following entries records the proper adjustment for Bad Debt Expense? Allowance for Doubtful Accounts has a credit balance of $800 at the end of the year (before adjustment), and an analysis of accounts in the customer ledger indicates the estimated amount of uncollectible accounts should be S 16.000. Based on the estimate above, which of the following adjusting entries should be made? Allowance for Doubtful Accounts has a credit balance of $500 at the end of the year (before adjustment), and bad debt expense is estimated at 3% of not credit sales. If net credit sales are S300.000, the amount of the adjusting entry to record the estimated uncollectible accounts receivables is On August 1. Kim Company accepted a 90-day note receivable as payment for services provided to Hsu Company. The terms of the note were $20,000 face value and 6% interest. On October 30, the journal entry to record the collection of the note should include a Harper Company lends Hewell Company 540,000 on March 1, accepting a four-month, 6% interest note. Harper Company prepares financial statements on March 31. What adjusting entry should be made before the financial statements can be prepared? On August 1, Kim Company accepted a 90-day note receivable as payment for services provided to Hsu Company. The terms of the note were 520,000 face value and 6% interest. On October 30, the journal entry to record the collection of the note should include a At the end of the current year, Accounts Receivable has a balance of S550,000; Allowance for Doubtful Accounts has a credit balance of 53,300; and net sales for the year total 52,500,000. An analysts of receivables estimates uncollectible receivables as S25,000. amount of the adjusting entry for bad debt expense and the adjusted balance of Allowance of Doubtful Accounts, respectivelyStep by Step Solution
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