Perform the following exercises related to the different situations that exist with uncollectible accounts in a company. Evaluate the aging report.

Read the following scenario and make the accounts receivable write-off entries. Computers and More, a computer systems sales company, decided to write off the account receivable (write off) of its client Tech Master for the balance of $52,000.

Jornalizes the write off input assuming the direct write-off method and the allow method .

Do the exercises in the following case, paying attention to the instructions: Music Express is a company that sells both car and home stereos.

Journalize transactions using the direct write off method.

It journalizes the transactions using the allowance method assuming the account's credit balance began at $28,000 on February 1 and the company uses the accounts receivable method analysis.

Selected transactions from Music Express records as of December 31:

April 10th. Account canceled (wrote off account) of Mario Guzmn for $6,400. It journalizes the transactions using the allowance method assuming the account's credit balance began at $28,000 on February 1 and the company uses the accounts receivable method analysis.

June 12. A partial payment of $1,500 was received from the account of Margarita Rodrguez from a credit account of $10,000. The remainder of the balance is written off as uncollectible.

20th of August. The amount of $6,400 was received from Mario Guzmn from the account that was canceled on April 10. Reinstate the account and record the cash receipt.

December 31. Write off the following accounts as uncollectible (make a journal entry):

3. If necessary, record year-end adjusting entries for uncollectible accounts.

Prepare the aging schedule for the following accounts receivable:

Ricardo Vega Mariela Gutierrez Manuel Rosario Jorge Camacho Linda Ocasio $3,200 2,440 6,200 1,800 5,330 Ricardo Vega Mariela Gutierrez Manuel Rosario Jorge Camacho Linda Ocasio $3,200 2,440 6,200 1,800 5,330