Answered step by step
Verified Expert Solution
Question
1 Approved Answer
the actual received during the weekend January 7 for cash sale was $17,547.00 and the amount indicated by the cash register total was $17,541 00
the actual received during the weekend January 7 for cash sale was $17,547.00 and the amount indicated by the cash register total was $17,541 00 journalize the entry to record the cash receipts and cash sales
Anoninin Bres then suef 3. Alpha Corporation uses the allowance method to make advance provisions for uncollectible receivables. Journalize the entries to record the following using the allowance method: (1) Record the adjusting entry on December 31, the end of the fiscal year, to provide for doubtful accounts. The accounts receivable account has a balance of $800,000, and the contra asset account before adjustment has a debit balance of $600. Analysis of the receivables indicates doubtul accounts of $20,000. (2) In March of the following fiscal year, the $550 owed by Flake Company on account is written off as uncollectible. (3) Eight months later, $200 of the Flake Company account is reinstated and payment of that amount is received
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started