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Oak Foods, Inc experienced the following revenue and accounts receivable write-offs (Click the icon to view the data) Suppose Oak estimates that 4% of (gross)
Oak Foods, Inc experienced the following revenue and accounts receivable write-offs (Click the icon to view the data) Suppose Oak estimates that 4% of (gross) revenues will become uncollectible Assume all revenues are on credit Read the requirement Begin by preparing the journal entry for service revenue for the month of June. (Record debits fine then credits Select the explanation on the last line of the journal entry table) Journal Entry Accounts and Explanations Debit Credit lun Requirement Date 1. Journale service revenue (all on account), un collectible accounts expense, and write-offs during June Include explanations son Print Done Data Table Month April May Ja Total Service Accounts Receivable Write Offs in Month Revenue April May June Total 5 4.100 5 54 5 $ 140 3.400 1035 34 137 3.600 105 105 11.100 $ 115 1395 380
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