3. Company Belalang and Sons use Doubtful Debt Allowance method in recording the uncollectibles in Account Receivable. On 1st December 2017, Doubtful Debt Allowance account balance is RM300 and Account Receivable balance is RM17,900. The following are the transactions related to Account Receivable and Doubtful Debt Allowance in December 2017: Date Transaction December 9 Credit sales worth RM1,000 The company plan to write off a customer account with RM200 debt for being declared bankrupt. 13 On the adjustment date, the company plan to do allowance for the uncollectibles for the 2% rate on Account Receivable 31 balance. AA015_Accounting 1 Instructions: a) Record the transactions in a journal. b) Prepare Account Receivable, Allowance for doubtful account and Bad Debts Expense. 4.

3. Company Belalang and Sons use Doubtful Debt Allowance method in recording the uncollectibles in Account Receivable. On 1st December 2017, Doubtful Debt Allowance account balance is RM300 and Account Receivable balance is RM17,900. The following are the transactions related to Account Receivable and Doubtful Debt Allowance in December 2017: Date Transaction December 9 Credit sales worth RM1,000 The company plan to write off a customer account with RM200 debt for being declared bankrupt. 13 On the adjustment date, the company plan to do allowance for the uncollectibles for the 2% rate on Account Receivable 31 balance. AA015_Accounting 1 Instructions: a) Record the transactions in a journal. b) Prepare Account Receivable, Allowance for doubtful account and Bad Debts Expense. 4.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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