{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-26T02:08:47-04:00", "answer_date": "2024-05-26 02:08:47", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1719568", "url": "\/study-help\/questions\/the-trial-balance-of-priority-paints-at-december-31-2014-1719568", "question_creation_date_js": "2024-05-26T02:08:47-04:00", "question_creation_date": "May 26, 2024 02:08 AM", "meta_title": "[Solved] The trial balance of Priority Paints at D | SolutionInn", "meta_description": "Answer of - The trial balance of Priority Paints at December 31, 2014, includes the following: Debits Credits Accounts Receivable | SolutionInn", "meta_keywords": "trial,balance,priority,paints,december,31,2014,includes,debits,credits,accounts,receivable", "question_title_h1": " The trial balance of Priority Paints at December 31, 2014, includes the following: Debits Credits Accounts Receivable $94,000 Allowance for Doubtful Accounts 500 Sales", "question_title": " The trial balance of Priority Paints at December 31, 2014, includes", "question_title_for_js_snippet": "The trial balance of Priority Paints at December 31, 2014, includes the following Debits Credits Accounts Receivable $94,000 Allowance for Doubtful Accounts 500 Sales (all on credit) $94,500 (a) Present the journal entries specified below Each item should be considered independently (Credit account titles are automatically indented when the amount is entered Do not indent manually List all debit entries before credit entries ) A B C If Priority Paints uses the aging method and estimates that $2 200 of receivables will be uncollectible, prepare the adjusting entry If Priority Paints estimates uncollectibles at 2 2 of accounts receivable and the allowance account had a $500 credit balance instead of a $500 debit balance, prepare the appropriate adjusting entry Assume that on February 3, 2015, the specific account of George Bush with a balance of $320 is deemed uncollectible Record the write off D Assume that on May 4, 2015 George Bush pays the above balance in full Record the appropriate entries ", "question_description": "\"image\"image", "transcribed_text": "The trial balance of Priority Paints at December 31, 2014, includes the following: Debits Credits Accounts Receivable $94,000 Allowance for Doubtful Accounts 500 Sales (all on credit) $94,500 (a) Present the journal entries specified below. Each item should be considered independently. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) A B. C If Priority Paints uses the aging method and estimates that $2.200 of receivables will be uncollectible, prepare the adjusting entry. If Priority Paints estimates uncollectibles at 2.2% of accounts receivable and the allowance account had a $500 credit balance instead of a $500 debit balance, prepare the appropriate adjusting entry. Assume that on February 3, 2015, the specific account of George Bush with a balance of $320 is deemed uncollectible. Record the write-off. D. Assume that on May 4, 2015. George Bush pays the above balance in full. Record the appropriate entries.", "related_book": { "title": "Financial Accounting An Introduction to Concepts, Methods and Uses", "isbn": "978-1111823450, 1-133-36617-1 , 1111823456, 978-1-133-3661, 978-1133591023", "edition": "14th edition", "authors": "Roman L. Weil, Katherine Schipper, Jennifer Francis", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/282.jpg", "uri": "\/textbooks\/financial-accounting-an-introduction-to-concepts-methods-and-uses-14th-edition-282", "see_more_uri": "" }, "free_related_book": { "isbn": "3642623255", "uri": "\/textbooks\/reversible-logic-synthesis-from-fundamentals-to-quantum-computing-1st-edition-9783642623257", "name": "Reversible Logic Synthesis From Fundamentals To Quantum Computing", "edition": "1st Edition" }, "question_posted": "2024-05-26 02:08:47", "see_more_questions_link": "\/study-help\/questions\/business-banking-2021-September-12", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/case-studies-finance\/what-other-types-of-contingency-planning-should-matt-and-chris", "description": "What other types of contingency planning should Matt and Chris include to make the report comprehensive? 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