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Past experience indicates that 17% of total accounts receivable will eventually be uncollectible for Marigold Rental Company. Selected general ledger account balances at December 31,
Past experience indicates that 17% of total accounts receivable will eventually be uncollectible for Marigold Rental Company. Selected general ledger account balances at December 31, 2023, and December 31, 2024, appear below: (a) Record the following events in 2024: (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Aug. 10 Determined that the account of Henry Hum for $2,400 is uncollectible. Sep. 12 Determined that the account of Mark Pippy for $3,900 is uncollectible. Oct 10 Received a cheque for $1,728 as payment on account from Henry Hum, whose account had previously been written off as uncollectible. He indicated the remainder of his account would be paid in November. Nov. 15 Received a cheque for $672 from Henry Hum as payment on his account
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