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please help me solve this. During August 2024, Tuocim Company recorded the following Requirements - Seies of $40,200 ($33,000 on aocount $7,200 for cash) lgnore
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During August 2024, Tuocim Company recorded the following Requirements - Seies of $40,200 (\$33,000 on aocount \$7,200 for cash) lgnore Cost of Goods Sold 1. Joumalize Tuccimis transactions during August 2024, assuming Tucom uses the - Collections on account, $18.600. drect wride-oft method - Witle-offs of uncelloctble roceivablos, $1,450 2. Joumalize Tuccim's transactons during August 2024, assuming Tuccim uses the allowance method. - Recovery of receivable previously wniten of, $200. Requirement 1. Joumslize Tuccim's transactions during August 2024, assuming Tuccim uses the Grect write-off mefhod. Sales of $40.200 (\$33,000 on account; $7.200 for cash) ignore Cost of Goods Sold. (Recond debats trit, then ctedts Solect the explanation on Bie last line of the joumal entry table. Prepset a single compound purnal enty) Colections on account, $13.600. Write-offs of uncollectible receivables, $1,450. Recovery of receivable previously written off, $200. Start by preparing the entry to reinstate the Now prepare the entry to show the collection of the previously written off receivable. Now prepare the entry to show the collection of the previously written off receivable. Requirement 2. Joumalize Tuccim's transactions during August 2024, assuming Tuccim uses the allowance method Sales of $40,200 (\$33,000 on account: $7,200 for cash). Ignore Cost of Goods Sold. (Record debits first, then credits. Select the explanation on single compound joumal entry.) Collections on account, $18,600. Write-offs of uncollectible receivables, $1,450. Recovery of receivable previously written off, $200. Start by preparing the entry to reinstate the receivable. Now prepare the entry to show the collection of the previously written off receivable Step by Step Solution
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