May Aug. Dec. D 1. Sold merchandise on account to Taiwan Palace Co., $43,440. The cost of the merchandise sold was $22,060. Received $9,980 from Taiwan Palace Co. and wrote off the remainder owed on the sale of May 1 as 80 30. F3 8. Required: Journalize the above transactions in the accounts of Arizona Interiors Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered Ek My Work 5 more Check My Work uses remaining. uncollectible. $ Reinstated the account of Taiwan Palace Co. that had been written off on August 30 and received $33,460 cash in full payment. 4 R F4 FO % 5 V 0 F5 6 U All work saved. c F6 Y I & 7 F7 U 8 DII F8 9 K F9 0

CHART OF ACCOUNTS Arizona Interiors Company General Ledger May 1. Sold metchandise on acoourt lo Tawan Palace Co, se3,440. The epat of tre merchandse sold wass 52000 . Aug. 30. Aecelved \$9,950 from Tawan Palace Co. and wrobe of the nemander oued on the sale of Mary 1 as uncolloctilie. Dea. B. Reinstmed the Account of Talwan Palace Co that had been writen of on Aupant 30 and received stsuco eash in fult paymert? Required: Chart of Accounts 146 Store Supplies 523 Delivery Expense 151 Prepaid Insurance 524 Repairs Expense 181 Land 529 Selling Expenses 191 Store Equipment 530 Office Salaries Expense 192 Accumulated Depreciation-Store Equipment 531 Rent Expense 193 Otfice Equipment 532 Depreciation Expense-Office Equipment 194 Accumulated Depreciation-Office Equipment 533 Insurance Expense 534 Orfice Supplies Expense LIABILITIES 535 Store Supplies Expense 210 Accounts Payable 536 Credit Card Expense 211 Salaries Payable 537. Cash Short and Over 213 Sales Tax Payable 538 Bad Dobt Expense 214 Interest Payable 539 Miscellaneous Expense 215 Notes Payable 710 Interest Expense EQUITY 310 Owner, Capital 311 Owner, Drawing 312 income Summary Previous Next