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there is a part a and part b to this trial balanc cludes the following Credits Debits Accounts Receivable $94.000 Allowance for Doubtful Accounts 500
there is a part a and part b to this
trial balanc cludes the following Credits Debits 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.) . 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. C. D Assume that on May 4, 2015, George Bush pays the above balance in full. Record the appropriate entries. Date Account Titles and Explanation Debit Credit A B. D To record writeoff of settlement) To record cash receipt for balance settlement) e Textbook and Media List of Accounts Save for Later Attempts: 0 of 1 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part aboveStep by Step Solution
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