Score: 0 of 3 pts 2 of 3 (0 complete) HW Score: 0%, 00f 8 pts P8-28A (similar to) EQuestion Help On August 31. 2018 Deisy Florall Supply hed a $180000 debit balance in Accounts Recelivable and a $7 200 credit balance in Allowance for Bad Debts. During September. Daisy made Salas on account $570 000 Ignore Cost of Goods Seld Collections on account. $604.000 Write-affs of uncolectible receivables. $3.000 Read the reauements Requirement 1 Journal e all September ent es using the a war e method Bad Debts Expense was estimated at 1% o credt sales Show a1 September act ity in Accounts Receivable Alo ance for ad Debts and Bad Debts Expanse (pest to these T-accounts) Bagin by journalizing all September entries using the alowance method. (Record debits first, then credits. Select the explanation on the last line of the Sales on account, $570.000. Ignore Cost of Goods Sold Date Accounts and Explanation Debit Credit Sep 30 1. Journalize all September entries using the allowance method. Bad debts expense was estimated at 1% of credit sales Show al September activity in Accounts Receivable Allowance for Bad Debts, and Bad Debts Expense (post to these T-accounts) 2. Using the same facts, assume that Daisy used the direct write-off method to account for uncollectble receivables Journalize al September entries using the direct wnte-off method Post to Accounts Receivable and Bad Debts Expense, and show their balances at September 30, 2018 3. What amount of Bad Debts Expense would Daisy report on its September income statement under each of the two methods? Which amount better matches expense with revenue? Give Choose trom any list or enter any number in the input fields and then click Check Answer . What amount of net accounts receivable would Daisy report on its September 30, 2018 balance sheet under each of the two methods? Which amount is more realetic? Give your 12 Pemaining Score: 0 of 3 pts 2 of 3 (0 complete) HW Score: 0%, 00f 8 pts P8-28A (similar to) EQuestion Help On August 31. 2018 Deisy Florall Supply hed a $180000 debit balance in Accounts Recelivable and a $7 200 credit balance in Allowance for Bad Debts. During September. Daisy made Salas on account $570 000 Ignore Cost of Goods Seld Collections on account. $604.000 Write-affs of uncolectible receivables. $3.000 Read the reauements Requirement 1 Journal e all September ent es using the a war e method Bad Debts Expense was estimated at 1% o credt sales Show a1 September act ity in Accounts Receivable Alo ance for ad Debts and Bad Debts Expanse (pest to these T-accounts) Bagin by journalizing all September entries using the alowance method. (Record debits first, then credits. Select the explanation on the last line of the Sales on account, $570.000. Ignore Cost of Goods Sold Date Accounts and Explanation Debit Credit Sep 30 1. Journalize all September entries using the allowance method. Bad debts expense was estimated at 1% of credit sales Show al September activity in Accounts Receivable Allowance for Bad Debts, and Bad Debts Expense (post to these T-accounts) 2. Using the same facts, assume that Daisy used the direct write-off method to account for uncollectble receivables Journalize al September entries using the direct wnte-off method Post to Accounts Receivable and Bad Debts Expense, and show their balances at September 30, 2018 3. What amount of Bad Debts Expense would Daisy report on its September income statement under each of the two methods? Which amount better matches expense with revenue? Give Choose trom any list or enter any number in the input fields and then click Check Answer . What amount of net accounts receivable would Daisy report on its September 30, 2018 balance sheet under each of the two methods? Which amount is more realetic? Give your 12 Pemaining
