Tarea 4.1 ACCO EM

Problem 4-10 (AICPA Adapted) Rapture Company had the following information for eurrent year relating to accounta receivable: 13000 50000 4.750.000 125.000 Accounts receivable, January 1 Credit eales Collectiona from customers, excluding recovery Accounta written off Collection of accounta written off in prior year. customer credit waa not reestablished Eatimated uncollectible receivables per aging at December 31 25.000 165 000 What is the balance of accounta receivable, before allowane for doubtful accounts, on December 317 a. 1,825,000 b. 1,850,000 c. 1,950,000 d. 1,990,000

Current Attempt in Progress At December 1, 2022, Tamarisk, Inc. Accounts Receivable balance was $17470. During December, Tamarisk had credit sales of $46800 and collected accounts receivable of $37440. At December 31, 2022, the Accounts Receivable balance is O $64270 debit O $17470 debit O $26830 credit O $26830 debit Save for Later Attempts: 0 of 1 used Submit Answer

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TB MC Qu. 07-134 (Algo) On July 9, Mifflin Company receives... On July 9, Mifflin Company receives a $10,200, 90-day, 6% note from customer Payton Summers to replace an account receivable. What entry should be made by Mifflin on July 9 to record receipt of the note? Multiple Choice Debit Notes Receivable $10,402; credit Interest Revenue $202; credit Accounts Receivable-P. Summers $10,200. Debit Accounts Receivable-P. Summers $10,200; credit Sales $10,200. Debit Notes Receivable $10,200; credit Sales $10,200. Debit Notes Receivable $10,200; credit Accounts Receivable-P. Summers $10,200. ( Prev 10 of 20 Next > 1069 MAR 15 éty MacBook Air F2 F3 F4 ES F6 F7 F8 %23 24 3 4 6 7 8.

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K. Brant D. Eaton S Klein C. Sheen Total % uncollectible Account No. 1 2 3 4 5 6 7 $800 Debit 500 300 5 550 At the beginning of the period, ABC had balances in Accounts Receivable of $100,000 and in Allowance for Doubtful Accounts of $56 (credit). Prepare a journal entry to record the above estimate using the following Chart of Account. Chart of Account 200 200 2,050 500 2% Description Cash $600 $200 150 Sales Revenue Credit 200 600 350 200 400 5% 10% 25% 50% Accounts Receivable Allowance for Doubtful Accounts Bad Debt Expense Sales Return and Allowance Sales Discount Enter the Account No. and amount for the entry. 400 Amount 269

Activity 2 Directions: Compute the uncollectible account expense using the percent of accounts receivable method. The following information needed in the computation of uncollectible accounts expense for March 2021 is available for Parkland Enterprises: Sales Cash Sales Accounts Receivable-ending 200,000.00 50,000.00 5,000.00 Assume that the company decided that five percent (5%) of accounts receivable are deemed uncollectible.

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Hide or show questions Progress:11/15 items                       Morry Company wrote off the following accounts receivable as uncollectible for the first year of its operations ending December 31: Customer Amount J. Jackson $10,000 L. Stanton 9,500 C. Barton 13,100 S. Fenton 7,400 Total $40,000   Required: a.  Journalize the write-offs for the current year under the direct write-off method. If an amount box does not require an entry, leave it blank.     Bad Debt Expense Bad Debt Expense     Accounts Receivable-J. Jackson Accounts Receivable-J. Jackson     Accounts Receivable-L. Stanton Accounts Receivable-L. Stanton     Accounts Receivable-C. Barton Accounts Receivable-C. Barton     Accounts Receivable-S. Fenton Accounts Receivable-S. Fenton   b.  Journalize the write-offs for the current year under the allowance method. Also, journalize the adjusting entry for uncollectible receivables assuming the company made…

0.67/2 E Knowledge Check Bramble Company, who uses the direct write-off method, writes off as uncollectible Indigo Company's $320 balance on December 12. Record the entry. (List debit entry before credit entry. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit eTextbook and Media Save for Later Attempts: unlimited Submit Answer Valuation and Disposition of Accounts Receivable: Valuing Accounts Receivable (Allowance Method for Uncollectible Accounts) Lecture Video (6 minl Q Search myhp M20

Required information Problem 9-1A (Algo) Short-term notes payable transactions and entries LO P1 (The following information applies to the questions displayed below.) Tyrell Company entered into the following transactions involving short-term liabilities. Year 1 April 20 Purchased $38,000 of merchandise on credit from Locunt, terma n/3D. Kay 19 Replaced the Apri1 20 account payable to Locust with a 90-day, 8, $35,000 note payable along with paying $3,000 in canh. July 8 Borrowed $60,000 canh from KBR Bank by signing a 120-day, 10, 560, 000 note payable. Paid the amount due on the note to Locunt at the maturity date. Paid the amount due on the note to NBR Bank at the maturity date. Noveaber 28 Borroved $33,000 caah from Pargo Bank by signing a 60-day, 7, $33,00o note payable. Decenber 31 Recorded an adjunting entry for accrued interest on the note to Targo Bank. Year 2 Paid the anount due on the note to Pargo Bank at the naturity date. Problem 9-1A (Algo) Part 4 4. Determine the…

Required information Skip to question   [The following information applies to the questions displayed below.] On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted credit balance of $14,500. Jarden prepares a schedule of its December 31 accounts receivable by age.  Accounts Receivable Age of Accounts Receivable Expected Percent Uncollectible $ 820,000 Not yet due 1.25% 328,000 1 to 30 days past due 2.00 65,600 31 to 60 days past due 6.50 32,800 61 to 90 days past due 32.75 13,120 Over 90 days past due 68.00   2. Prepare the adjusting entry to record bad debts expense at December 31. (Round percentage answers to nearest whole percent. Do not round intermediate calculations.)

Required information Skip to question   [The following information applies to the questions displayed below.] On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted credit balance of $14,500. Jarden prepares a schedule of its December 31 accounts receivable by age.  Accounts Receivable Age of Accounts Receivable Expected Percent Uncollectible $ 820,000 Not yet due 1.25% 328,000 1 to 30 days past due 2.00 65,600 31 to 60 days past due 6.50 32,800 61 to 90 days past due 32.75 13,120 Over 90 days past due 68.00   Required:1. Compute the required balance of the Allowance for Doubtful Accounts at December 31 using an aging of accounts receivable.

a. 8,200,000 b. 6,200,000 c. 2,000,000 d. 4,200,000 Problem 4-15 (AICPA Adapted) 81 molde Steven Company provided the following information during the first year of operations: 0913410000 Total merchandise purchases for the current year Merchandise inventory on December 31 Collections from customers bgodno ode All merchandise was marked to sell at 40% above cost. All Isales are on a credit basis and all accounts are collectible, What amount should be reported as accounts receivable on December 31? od ove arlo batable pore ab a. 1,000,000 b. 3,840,000 c. 5,000,000 d. 5,800,000 7,000,000 1,400,000 4,000,000 120 000 030 000,000 at amount was received b remittance in full? a. 2,744,000 b. 2,940,000 c. 2,944,000 d. 3,140,000 Problem 4-17 (PHILCPA A Germany Company started busines year. The entity established an all- estimated at 5% of credit sales. wrote off P50,000 of uncollectible Further analysis showed th amounted to P9,000,000 and e was P1,500,000. Goods were s The total sales…

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The income statement approach: journalizing bad debts expense and writing off accounts 00 (25 min) Aug, 23 Dr. Allowance for Doubtful Accounts $950 Cr. Accounts Receivable, Jill O'Reilly GROUP B PROBLEMS P12-18. Yuen Co. of Windsor has requested that you prepare journal entries from the following (this company uses the Allowance for Doubtful Accounts method based on the income statement approach): 2021 Dec. 31 Recorded bad debts expense of $14,800. 2022 Jan. 8 Mar. 5 Wrote off Woody Tree's account of $1,200 as uncollectible. Wrote off Jim Lantz's account of $600 as uncollectible. Recovered $600 from Jim Lantz. July 9 Aug, 20 23 Wrote off Mabel Hest's account of $750 as uncollectible. Wrote off Jim O'Reilly's account of $950 as uncollectible. Recovered $500 from Mabel Hest. Nov. 19

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