Susan Knoll is an attorney in Los Angeles Knoll uses the direct write off method to account for uncollectible receivables At January 31, 2016, Knolls accounts receivable totaled $18,000 During February, she earned revenue of $21,000 on account and collected $23,000 on account She also wrote off unc...

Requirement 1 Date Accounts and Explanation Debit ...

Susan Knoll is an attorney in Los Angeles. Knoll uses the direct write-off method to account for

Question:

Susan Knoll is an attorney in Los Angeles. Knoll uses the direct write-off method to account for uncollectible receivables.
At January 31, 2016, Knoll’s totaled $18,000. During February, she earned revenue of $21,000 on account and collected $23,000 on account. She also wrote off uncollectible receivables of $1,050 on February 29, 2016.
Requirements
1. Use the direct write-off method to journalize Knoll’s write-off of the uncollectible receivables.
2. What is Knoll’s balance of at February 29, 2016? Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...