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Spelli Cher puses aulepLS LIEU Lalus an evil Lalu TOIMUS Sie uddur. But they do offer trade accounts receivable to select customers. The September month
Spelli Cher puses aulepLS LIEU Lalus an evil Lalu TOIMUS Sie uddur. But they do offer trade accounts receivable to select customers. The September month end is fast approaching, and they wish you to determine the proper entry to account for bad debts. Use the information below to determine the appropriate entry: Total Sales Cash sales Debit card sales Sales on Account: 51,019,007 S407,603 S234,372 722 Bad Debt % on sales on account 3% Accounts Receivable ending balance S Allowance for Doubtful Accounts opening balance s Accounts written off this period S 20,453 DR 4,164 CR 752 Aging Accounts Receivable Current 30-60 days 60-90 days Over 90 days Bad Debt 45% 3X 34% 15% 14% 6% 74% 4% 100% A) If Spector Enterprises follows the Income Statement Approach, prepare the journal entries for the company for account write-off and bad debt. Show all calculations B) What would be the net Accounts Receivable on the Balance Sheet after preparing
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