Show the required journal entry under the Allowance Method if Ant Corporation receives the $700 they had previously written-off.

If Jan. credit sales for Ant Corporation were $10,000 and AR has a balance of $20,000, the company believes 5% of credit sales or 30% of AR are uncollectible and Allowance for Doubtful Accounts has a credit balance on Jan. 1 of $5,000 Note: you may not require all given information to answer.

Show the entry to record Bad Debt Expense on Jan 31 using the balance sheet approach:

If a petty cash fund is set at $50 and receipts show $14 for snacks, $11 for stamps and $7 for gas money, and there is $16 cash, what is the necessary entry to replenish petty cash?