Question
Problem 2: REQUIRED: 1) Prepare the April 30th bank reconciliation. 2) Prepare the necessary correcting journal entries for Beavis. (Please title correctly with correct header)
Problem 2: REQUIRED: 1) Prepare the April 30th bank reconciliation. 2) Prepare the necessary correcting journal entries for Beavis. (Please title correctly with correct header)
The following information pertains to Swift Company in 2019:
April 1: Wrote off the account of K. Perry, $220.
June 1: Unexpectedly received a check from B. Ellish for $375. Ellishs account was written off in 2017.
Dec. 31: Swifts 2019 net credit sales were $800,000. Its estimated that 4% of those sales will be uncollectible.
Dec. 31: The balance in the Allowance for Bad Debt t-account showed a debit of $5,000 before adjustment. It is estimated that $39,000 will be uncollectible based on an aging analysis of the Accounts Receivable.
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Principles of Auditing An Introduction to International Standards on Auditing
Authors: Rick Hayes, Philip Wallage, Hans Gortemaker
3rd edition
273768174, 978-0273768173
