Morry Company wrote off the following accounts receivable as uncollectible for the first year of its operations ending December 31:

Customer	Amount
J. Jackson	$10,000
L. Stanton	9,500
C. Barton	13,100
S. Fenton	7,400
Total	$40,000

Required:

a. Journalize the write-offs for the current year under the direct write-off method. If an amount box does not require an entry, leave it blank.

		fill in the blank a878c5f9a039060_2	fill in the blank a878c5f9a039060_3
		fill in the blank a878c5f9a039060_5	fill in the blank a878c5f9a039060_6
		fill in the blank a878c5f9a039060_8	fill in the blank a878c5f9a039060_9
		fill in the blank a878c5f9a039060_11	fill in the blank a878c5f9a039060_12
		fill in the blank a878c5f9a039060_14	fill in the blank a878c5f9a039060_15

b. Journalize the write-offs for the current year under the allowance method. Also, journalize the adjusting entry for uncollectible receivables assuming the company made $2,400,000 of credit sales during the year and the industry average for uncollectible receivables is 1.50% of credit sales. If an amount box does not require an entry, leave it blank.

		fill in the blank 3ae86908bfd8fb8_2	fill in the blank 3ae86908bfd8fb8_3
		fill in the blank 3ae86908bfd8fb8_5	fill in the blank 3ae86908bfd8fb8_6
		fill in the blank 3ae86908bfd8fb8_8	fill in the blank 3ae86908bfd8fb8_9
		fill in the blank 3ae86908bfd8fb8_11	fill in the blank 3ae86908bfd8fb8_12
		fill in the blank 3ae86908bfd8fb8_14	fill in the blank 3ae86908bfd8fb8_15
		fill in the blank 3ae86908bfd8fb8_17	fill in the blank 3ae86908bfd8fb8_18
		fill in the blank 3ae86908bfd8fb8_20	fill in the blank 3ae86908bfd8fb8_21

c. How much higher or lower would Morry Company's net income have been under the direct write-off method than under the allowance method? $fill in the blank 1a8d6ff8600cfe6_1

Morry Company wrote of the following accounts receivable as uncollectible for the first year of its operations ending December 31 Customer J. Jackson L. Stanton C. Barton Amount $10,000 9.500 13,100 S. Fenton 7,400 Total $40,000 Required: a. Journalize the write-offs for the current year under the direct write-off method. If an amount box does not require an entry, leave it blank. b. Journalize the write-offs for the current year under the allowance method. Also, journalize the adjusting entry for uncollectible receivables assuming the company made $2,400,000 of credit sales during the year and the industry average for uncollectible receivables is 1.50% of credit sales. If an amount box does not require an entry, leave it blank c. How much higher or lower would Morry Company's net income have been under the direct write-off method than under the allowance method