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so what do i put of the transactions title ? a. During January, the company provided services for $40,000 on credit. b. On January 31,
so what do i put of the transactions title ?
a. During January, the company provided services for $40,000 on credit. b. On January 31, the company estimated bad debts using 1 percent of credit sales. c. On February 4, the company collected $20,000 of accounts receivable. d. On February 15, the company wrote off a $100 account receivable. e. During February, the company provided services for $30,000 on credit. 1. On February 28, the company estimated bad debts using 1 percent of credit sales. 9. On March 1, the company loaned $2,400 to an employee, who signed a 6% note, due in 6 months. h. On March 15, the company collected $100 on the account written off one month earlier. 1. On March 31, the company accrued interest earned on the note. j. On March 31, the company adjusted for uncollectible accounts, based on an aging analysis (below). Allowance for Doubtful Accounts has an unadjusted credit balance of $1,200. 8-30 $ 100 Customer Alabama Tourism Bayside Bungalows Others (not shown to save space) Xciting Xcursions Total Accounts Receivable Estimated Uncollectible (%) Total $ 200 400 17,000 400 $18,000 Number of Days Unpaid 31-60 61-90 Over 90 $ se $ 2e $ 400 8,400 1,000 see 6,800 400 $ 7,300 2% $ 8,480 10% $1,e2e 20% $ 1,200 40x 2. Prepare the journal entries for items (a0). (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round Intermediate calculations.) View transaction list Journal entry worksheet Debit Credit No Transaction General Journal 40,000 1 a Accounts Receivable Service Revenue 40,000 400 2 b. Allowance for Doubtful Accounts Bad Debt Expense 400 20,000 3 C Accounts Receivable Cash 20,000 100 4 d. Accounts Receivable Allowance for Doubtful Accounts 100 30,000 5 e. Accounts Receivable Service Revenue 30,000 300 6 f. Allowance for Doubtful Accounts Bad Debt Expense 300 7 2,400 Notes Receivable (long-term) Cash 0 % 2.400 6 f. 300 Allowance for Doubtful Accounts Bad Debt Expense x x 300 7 g. 2,400 Notes Receivable (long-term) Cash 2,400 8 h(1) 100 Accounts Receivable Allowance for Doubtful Accounts 100 9 h(2) 100 Cash Accounts Receivable O 100 10 12 Interest Receivable Interest Revenue 12 11 222 Accounts Receivable Allowance for Doubtful Accounts O 222 >>
so what do i put of the transactions title ?
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