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More Info Salem Auto Parts, Inc., completed the following selected transactians during 2016 (Click the icon to view the transactions.) Read the requirements. Sold inventory
More Info Salem Auto Parts, Inc., completed the following selected transactians during 2016 (Click the icon to view the transactions.) Read the requirements. Sold inventory to Vic Vane, $1,400, on account. Ignore cost of goods sold. Wrote off the Vic Vane account as uncollectible after repeated efforts to collect from him. Received S300 from Vic Vane, along with a letter stating his intention to pay within 30 days. Reinstated his account in full. Received the balance due from Vic Vane Made a compound entry to write off the following accounts as uncollectible: Bob Keffer, S300; Molly McAdams, $200; and Susie Stein, $700 Based on an aging of accounts receivable, estimated uncollectible accounts as $2,300 Jan 17 Jun 29 Aug 6 Now post to the Allowance for uncollectible accounts and Bad debt expense ledger accounts t to update account balances but ignore posting references. (Post to the accounts in the same or Sep 4 Dec 31 Allowance for uncollectible accounts Bad debt expense Beg Bal 1,300 Beg Bal Dec 31 Print Done Requirement 2. The December 31 balance of Accounts receivable is $180,000. Show how A i Requirements Salem Auto Parts, Indc. Balance Sheet (partial) December 31 1. Record the transactions in the journal and post to the Allowance for uncollectible accounts and Bad debt expense ledger accounts that have been opened for you. These accounts have beginning balances of $1,300 (cr.) and 0, respectively. Remember to update account balances but ignore posting references. Less: 2. The December 31 balance of Accounts receivable is $180,000. Show how Accounts receivable would be reported on the balance sheet at that date Choose from any list or enter any number in the input fields and then continue to the ne Print Done
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