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pitman company records uncollectible accounts expense as they occur selected transactions for 2019 and 2020 are described below accounts involved in these transactions are notes
pitman company records uncollectible accounts expense as they occur selected transactions for 2019 and 2020 are described below accounts involved in these transactions are notes receivable accounts receivable and uncollectible accounts expense analyze based on the above transactions what net uncollectible accounts expense is recorded for the year 2019?
Pittman Company records uncollectible accounts expense as they occur. Selected transactions for 2019 and 2020 are described below. The accounts involved in these transactions are Notes Receivable, Accounts Receivable, and Uncollectible Accounts Expense. DATE TRANSACTIONS 2019 Feb. 7 The $640 account receivable of Marle Cousins is determined to be uncollectible and is to be written off May 16 Because of the death of Heidi Martin, her account receivable of $1,040 is considered uncollectible and is to be written off. July 2 Received $320 from Marie Cousins in partial payment of her account, which had been written off on February 7. The cash obtained has already been recorded in the cash receipts journal. There is doubt that the balance of Cousins' account will be collected July 29 Received $320 from Marie Cousins to complete payment of her account, which had been written off on February 7. The cash obtained has already been recorded in the cash receipts journal Aug. 18 The $364 account receivable of Neal Wilder is determined to be uncollectible and is to be written off. 2020 Sept. 28 Received $520 from the estate of Heidi Martin as part of the settlement of affairs. This amount is applicable to the account receivable written off on May 16, 2019. The cash obtained has already been recorded in the cash receipts journal Prepare journal entries to record the above transactions. Analyze: Based on the above transactions, what net uncollectible accounts expense was recorded for the year 2019? View transaction list Journal entry worksheet 2 3 4 5 The $640 account receivable of Marie Cousins is determined to be uncollectible and is to be written off. Note: Enter debits before credits. General Journal Debit Credit Date Feb 07, 2019 Record entry Clear entry View general journal view transaction list Journal entry worksheet Because of the death of Heidi Martin, her account receivable of $1,040 is considered uncollectible and is to be written off. Note: Enter debits before credits. Date May 16, 2019 General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet Step by Step Solution
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