please help me w all 5 of these questions
Return to Blackboard Kimmel, Financial Accounting, 9e Help System Announcements PRINTER VER CALCULATOR Problem 8-02A At December 31, 2021, Sunland Imports reported this information on its balance sheet. Accounts receivable $600,000 Less: Allowance for doubtful accounts 33,000 During 2022, the company had the following transactions related to receivables. 1. 2. 3. Sales on account Sales returns and allowances Collections of accounts receivable Write-offs of accounts receivable deemed uncollectible Recovery of bad debts previously written off as uncollectible $2,510,000 50,000 2,310,000 41,000 20,000 5. Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were accounts receivable. (Omit cost of goods sold entries.) (Credit account titles are automatically indent entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit CALCULATOR PRINTER VERSION BACK 5. NEXT Recovery of bad debts previously written off as uncollectible 20,000 Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (To reinstate account previously written oft) (To record collection of accounts receivable) SHOW LIST OF ACCOUNTS LINK TO TEXT WER TY ulo ULULATOR PRINTER VERSION BACK LINK TO TEXT LINK TO VIDEO Enter the January 1, 2022, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accou and determine the balances. (Post entries in the order of journal entries posted in the previous part) Accounts Receivable Allowance for Doubtful Accounts Prepare the journal entry to record bad debt expense for 2022, assuming that aging the accounts receivable indicates that estimated bad debts are $46,000. (Credit account titles are automatically indented when amount is entered. De mot indent manually.) Account Tities and Explanation Debit Credit WERTYUIO Prepare the journal entry to record bad debt expense for 2022, assuming that aging the accounts receivable indicates that estimated bad debts are $46,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO Compute the accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.4.) Accounts receivable turnover times SHOW LIST OF ACCOUNTS LINK TO VIDEO LINK TO TEXT Compute the average collection period. (Round answer to 1 decimal place, e.g. 12.4. Use 365 days for calculation.) Average collection period days Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO VIDEO LINK TO TEXT Return to Blackboard Kimmel, Financial Accounting, 9e Help System Announcements PRINTER VER CALCULATOR Problem 8-02A At December 31, 2021, Sunland Imports reported this information on its balance sheet. Accounts receivable $600,000 Less: Allowance for doubtful accounts 33,000 During 2022, the company had the following transactions related to receivables. 1. 2. 3. Sales on account Sales returns and allowances Collections of accounts receivable Write-offs of accounts receivable deemed uncollectible Recovery of bad debts previously written off as uncollectible $2,510,000 50,000 2,310,000 41,000 20,000 5. Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were accounts receivable. (Omit cost of goods sold entries.) (Credit account titles are automatically indent entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit CALCULATOR PRINTER VERSION BACK 5. NEXT Recovery of bad debts previously written off as uncollectible 20,000 Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (To reinstate account previously written oft) (To record collection of accounts receivable) SHOW LIST OF ACCOUNTS LINK TO TEXT WER TY ulo ULULATOR PRINTER VERSION BACK LINK TO TEXT LINK TO VIDEO Enter the January 1, 2022, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accou and determine the balances. (Post entries in the order of journal entries posted in the previous part) Accounts Receivable Allowance for Doubtful Accounts Prepare the journal entry to record bad debt expense for 2022, assuming that aging the accounts receivable indicates that estimated bad debts are $46,000. (Credit account titles are automatically indented when amount is entered. De mot indent manually.) Account Tities and Explanation Debit Credit WERTYUIO Prepare the journal entry to record bad debt expense for 2022, assuming that aging the accounts receivable indicates that estimated bad debts are $46,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO Compute the accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.4.) Accounts receivable turnover times SHOW LIST OF ACCOUNTS LINK TO VIDEO LINK TO TEXT Compute the average collection period. (Round answer to 1 decimal place, e.g. 12.4. Use 365 days for calculation.) Average collection period days Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO VIDEO LINK TO TEXT
