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please answer both questions #4 & #5 On January 1, Wei Company begins the accounting period with a $42,000 crodit balance in Allowanco for Doubtful
please answer both questions #4 & #5
On January 1, Wei Company begins the accounting period with a $42,000 crodit balance in Allowanco for Doubtful Accounts. a. On February 1, the company determined that $9,200 in customer accounts was uncollectible; specifically, $2,100 for Oskley Company and $7,100 for Brookes Company Prepare the journal entry to write off those two accounts. b. On June 5 , the company unexpectedly recolved a $2,100 payment on a customer account, Oaikey Company, that had previausly been written off in part a. Prepare the entries to reinstate the account and record the cash recelved. b. On June 5 , the company unexpectedly received a $2,100 payment on a customer account, Oakley Compary, that had previously been written off in part a. Prepare the entries to reinstate the account and record the cash teceived. Journal entry worksheet Record the reinstatement of Oakley's account, if necessary. What Enter debits before credits. b. On June 5 , the company unexpectedly recelved a $2,100 payment on a customer account, Oakley Company, that had previ: been written off in part a. Prepare the entries to reinstate the account and record the cash received. Journal entry worksheet On February 1, the company determined that $9,200 in customer accounts was uncoliectible; specifically, $2,100 for Oakley Company and $7,100 for Brookes Company. Prepare the fournal entry to write off those two accounts. Note: Enter debits before credas. In its first year of operations, Cloudbox has credit sales of $206,000. its year-end balance in accounts receivable is $10,600, and the company estimates that $1,800 of its accounts receivable is uncollectible a. Prepare the year-end adjusting entry to estimate bad debts expenso. b. Prepare the current assets section of Cloudbox's classified balance sheet assuming inventory is $23,500, Cash is $15,500, and Prepaid Rent is $3,150. Note. The company reports Accounts receivable, net on the balance sheet. a. Prepare the year-end adjusting entry to estimate bad debts expense. b. Prepare the curtent assets section of Cloudbox's classified balance sheet assuming inventory is $23,500,6anh is 515,500 , and Prepaid Rent is \$3,150. Note. The company reports Accounts receivable, net on the balance sheot: Complete this question by entering your answers in the tabs below. Prepare the current assets section of Cloudbox's classified balance theet assuming Inventory is $23,500, Casti is $15,560, and Prepaid Rent is $3,150. Note: The company reports Accoumts receivabie, net on the balance sheet. b. On June 5 , the company unexpectedly recelved a $2,100 payment on a customer account, Oakdey Company, that had previousty been written off in part a. Prepare the entries to reinstate the account and record the cash received. Journal entry worksheet Record the receipt of the amount due from Oakley. Nate: Enter debits before credes Complete this question by entering your answers in the tabs below. Prepare the year-end adjusting entry to estimate bad debts expense: Journal entry worksheet Record the year-end adjusting entry to estimate bad debts expense Step by Step Solution
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