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please help and thank you Question 14 of 30 -12 E View Policies Current Attempt in Progress At the end of 2021, Swifty Corporation has
please help and thank you
Question 14 of 30 -12 E View Policies Current Attempt in Progress At the end of 2021, Swifty Corporation has accounts receivable of $745,400 and an allowance for doubtful accounts of 544,400. On January 24, 2022, it is learned that the company's receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $7.400. On March 4, 2022, Swifty Corporation receives payment of $7,400 in full from Madonna Inc. Prepare the journal entries to record this transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts) Account Titles and Explanation Debit Credit (To reverse write-off) (To record collection from Madonna) Prepare journal entries to record these transactions. (a) Windsor, Inc. retires its delivery equipment, which cost $42,600. Accumulated depreciation is also $42.600 on this delivery equipment. No salvage value is received. (Credit account titles are automatically indented when amount is entered. Do not indent manually . If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit View Policies Show Attempt History Current Attempt in Progress Windsor, Inc. acquires a delivery truck at a cost of $48.000 on January 1, 2022. The truck is expected to have a salvage value of $2,600 at the end of its 5-year useful life. Assuming the declining-balance depreciation rate is double the straight-line rate, compute annual depreciation for the first and second years under the declining-balance method. Year 1 Year 2 Annual depreciation expense $ Surve for Later Attempts: 1 of 2 used Submit Amber wiery.com/wat/ui/assessment-player/indexhtml?lanchid-206020 5061-401-619-557d3d723ca question/14 ACG2022 Test 3 Question 15 of 30 -/2 E Current Attempt in Progress Skysong, Inc. uses the percentage-of-receivables basis to record bad debt expense and concludes that 1% of accounts receivable will become uncollectible. Accounts receivable are $479,000 at the end of the year, and the allowance for doubtful accounts has a credit balance of $3,010 (a) Prepare the adjusting journal entry to record bad debt expense for the year. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Account Titles and Explanation Debit Credit Bad Debt Expense Step by Step Solution
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