Z Mart uses the perpetual inventory system and has its own credit card Z Mart charges a per month interest fee for any unpaid balance on its store credit card at each month end Apr 30 Z Mart sold merchandise for $2,800 (that had cost $1,550) and accepted the customers Z Mart store credit card May 31 Z Mart recorded $3 of interest earned from its store credit card as of this month end Prepare journal entries to record the above credit card transactions of Z Mart On January 1, Wei company begins the accounting period with a $39,000 credit balance in Allowance for Doubtful Accounts On February 1, the company determined that $8,600 in customer accounts was uncollectible specifically, $1,800 for Oakley Co and $6,800 for Brookes Co Prepare the journal entry to write off those two accounts On June 5, the company unexpectedly received a $1,800 payment on a customer account, Oakley Company, that had previously been written off in part a Prepare the entries to reinstate the account and record the cash received At year end (December 31), Chan Company estimates its bad debts as 0 90 of its annual credit sales of $789,000 Chan records its Bad Debts Expense for that estimate On the following February 1, Chan decides that the $395 account of P Park is uncollectible and writes it off as a bad debt On June 5, Park unexpectedly pays the amount previously written off Prepare Chan's journal entries for the transactions Mazie Supply Co uses the percent of accounts receivable method On December 31, it has outstanding accounts receivable of $70,000, and it estimates that 3 will be uncollectible Prepare the year end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has (a) a $1,190 credit balance before the adjustment (b) a $350 debit balance before the adjustment Journal entry worksheet 1 2 3 Z Mart sold merchandise for $2,800 and accepted the customer's Z Mart store credit card Note Enter debits before credits Date General Journal Debit Credit Apr 30 Journal entry worksheet Record the cost of good sold $1,550 Note Enter debits before credits Date General Journal Debit Credit Apr 30 Journal entry worksheet Z Mart recorded $3 of interest earned from its store credit card as of this month end Note Enter debits before credits Date General Journal Debit Credit May 31 Journal entry worksheet On February 1, the company determined that $8,600 in customer accounts was uncollectible specifically, $1,800 for Oakley Co and $6,800 for Brookes Co Prepare the journal entry to write off those two accounts Note Enter debits before credits Date General Journal Debit Credit Feb 01 Journal entry worksheet Reinstated Park's previously written off account Note Enter debits before credits Date General Journal Debit Credit Jun 05 Journal entry worksheet

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Z-Mart uses the perpetual inventory system and has its own credit card. Z-Mart charges a per-month interest fee for any unpaid balance on its store

Z-Mart uses the perpetual inventory system and has its own credit card. Z-Mart charges a per-month interest fee for any unpaid balance on its store credit card at each month-end.

Apr.		30		Z-Mart sold merchandise for $2,800 (that had cost $1,550) and accepted the customers Z-Mart store credit card.
May		31		Z-Mart recorded $3 of interest earned from its store credit card as of this month-end.

Prepare journal entries to record the above credit card transactions of Z-Mart.

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On January 1, Wei company begins the accounting period with a $39,000 credit balance in Allowance for Doubtful Accounts.

On February 1, the company determined that $8,600 in customer accounts was uncollectible; specifically, $1,800 for Oakley Co. and $6,800 for Brookes Co. Prepare the journal entry to write off those two accounts.
On June 5, the company unexpectedly received a $1,800 payment on a customer account, Oakley Company, that had previously been written off in part a. Prepare the entries to reinstate the account and record the cash received.At year-end (December 31), Chan Company estimates its bad debts as 0.90% of its annual credit sales of $789,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $395 account of P. Park is uncollectible and writes it off as a bad debt. On June 5, Park unexpectedly pays the amount previously written off. Prepare Chan's journal entries for the transactions.

Mazie Supply Co. uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $70,000, and it estimates that 3% will be uncollectible. Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has:

(a) a $1,190 credit balance before the adjustment.
(b) a $350 debit balance before the adjustment.

Journal entry worksheet 1 2 3 Z-Mart sold merchandise for $2,800 and accepted the customer's Z-Mart store credit card. Note: Enter debits before credits. Date General Journal Debit Credit Apr 30 Journal entry worksheet Record the cost of good sold $1,550. Note: Enter debits before credits. Date General Journal Debit Credit Apr 30 Journal entry worksheet Z-Mart recorded $3 of interest earned from its store credit card as of this month-end. Note: Enter debits before credits. Date General Journal Debit Credit May 31 Journal entry worksheet On February 1, the company determined that $8,600 in customer accounts was uncollectible; specifically, $1,800 for Oakley Co. and $6,800 for Brookes Co. Prepare the journal entry to write off those two accounts. Note: Enter debits before credits. Date General Journal Debit Credit Feb 01 Journal entry worksheet Reinstated Park's previously written off account. Note: Enter debits before credits. Date General Journal Debit Credit Jun 05 Journal entry worksheet