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The Accounts Recevable balance and Allowance for Bad Debts for Signature Lamp Company at December 31, 2017, was $10,800 and $2,000 (credit balance), respectively During
The Accounts Recevable balance and Allowance for Bad Debts for Signature Lamp Company at December 31, 2017, was $10,800 and $2,000 (credit balance), respectively During 2018, Signature Lamp Company completed the following transactions (Cick the lcon to vlew the transactions) Read the equirements Requirement 1. Journalize Signature Lamp Company's transactions for 2018 assuming Signature Lamp Company uses the allowance method. (Record debits first, then credils. Select the explanation on the last line of the jounal entry table.) a. Sales revenue on account S273,400 (ignore Cost of Goods Sold). Accounts and Explanation Debit Credit More Info - X Requirements a. Sales revenue on account, $273,400 (ignore Cost of Goods 1. Journalize Signature Lamp Company's transactions for 2018 assuming Signature Lamp Company Sold). uses the allowance method. b. Collections on account, $223,000 c. Write-offs of uncollectibles, $5,900 2. Post the transactions to the Accounts Receivable, Allowance for Bad Debts, and Bad Debts Expense T-accounts, and determine the ending balance of each account. d. Bad debts expense of $5,200 was recorded. 3. Show how accounts receivable would be reported on the balance sheet at December 31, 2018 Print Done PrintDone
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