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Instructions Chart of Accounts General Journal Instructions Using the allowance method of accounting for uncollectible receivables Apr. 1 June 10 Sold merchandise on account to
Instructions Chart of Accounts General Journal Instructions Using the allowance method of accounting for uncollectible receivables Apr. 1 June 10 Sold merchandise on account to Jim Dobbs, 57.500. The cost of the merchandise is $5,600 Received payment for one-third of the receivable from Jim Dobbs and wrote of the remainder Reinstated the account of Jim Dobbs and received cash in full payment. Oct 11 Required: Joumalize the above transactions. Refer to the Chart of Accounts for exact wording of accountilles Chart of Accounts CHART OF ACCOUNTS General Ledger ASSETS REVENUE 110 Cash 410 Sales All work saved Emain 28 sctv "A CHART OF ACCOUNTS General Ledger ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 121 Accounts Receivable-Alan Albertson 122 Accounts Receivable-Jim Dobbs EXPENSES 123 Accounts Receivable-John Groves 510 Cost of Merchandise Sold 124 Accounts Receivable-Jan Lehn 125 Accounts Receivable-Jacob Marley 126 Accounts Receivable-Mr.Potts 127 Accounts Receivable-Chad Thomas 128 Accounts Receivable-Andrew Warren 129 Allowance for Doubtful Accounts 520 Salaries Expense 521 Advertising Expense 522 Depreciation Expense 523 Delivery Expense 524 Repairs Expense 531.Rent Expense 131 Interest Receivable 132 Notes Receivable 533 Insurance Expense 534 Supplies Expense 536 Credit Card Expense 141 Merchandise Inventory 145 Supplies 537 Cash Short and Over 151 Prepaid Insurance 181 Land 538 Bad Debt Expense 539 Miscellaneous Expense PAGE 1 JOURNAL DATE DESCRIPTION 1 POST. REF. DEBIT CREDIT 7,500.00 2 Apr.1 Accounts Receivable-Jim Dobbs Sales Apr, 1 Cost of Merchandise Sold Merchandise Inventory 3 7,500.00 5,600.00 4 5,600.00 Jun. 10 Cash 2,500.00 5,000.00 Bad Debt Expense Accounts Receivable Jim Dobbs Accounts Receivable-lim Dobbs Bad Debt Expense Oct. 11 7,500.00 5,000.00 9 10 Oct. 11 5,000.00 Gash 5,000.00 Accounts Receivable-Jim Dobbs 5,000.00
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