3. On July 19, 2022, a customer's account balance of $6,700 is written off as uncollectible. Record the write-off. (If no entry is requiredfor a particular transaction/event, select "No Journal Entry Required" in the first account field.)View transaction listJournal entry worksheet1>Record write off of actual bad debts.Note: Enter debits before credits.DateGeneral JournalDebitCreditJuly 19, 2022 Pearl E. White Orthodontist specializes in correcting misaligned teeth. During 2021, Pearl provides services on account of$577,000. Of this amount, $67,000 remains receivable at the end of the year. An aging schedule as of December 31, 2021,is provided below.EstimatedAmountPercentAge GroupNot yet due0-90 days past due91-180 days past dueMore than 180 days past dueReceivable$27,00014,7009,70015,600$67,000Uncollectible4%20%25%70%Total

Adjusting journal entry: At year end when company finalise its accounts then any unrecognized income…

3. On July 19, 2022, a customer's account balance of $6,700 is written off as uncollectible. Record the write-off. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 > Record write off of actual bad debts. Note: Enter debits before credits. Date General Journal Debit Credit July 19, 2022

3. On July 19, 2022, a customer's account balance of $6,700 is written off as uncollectible. Record the write-off. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 > Record write off of actual bad debts. Note: Enter debits before credits. Date General Journal Debit Credit July 19, 2022

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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es Dexter Company uses the direct write-off method. March 11 Dexter determines that it cannot collect $9,800 of its accounts receivable from Leer Company. March 29 Leer Company unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt. Prepare journal entries to record the above transactions. View transaction list Journal entry worksheet 1 2 3 Record write-off of Leer Company account. Note: Enter debits before credits. Date March 11 General Journal Debit Credit Record entry Clear entry View general journal >
a. Journalize the entry to record the issuance of the note on January 1. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. b. b. Journalize the entry to record the payment of the note at maturity, including interest. Assume a 360-day year. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
1. Record the estimated bad debts expense. 2. Wrote off P. Park's account as uncollectible. 3. Reinstated Park's previously written off account. 4. Record the cash received on account.
Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables: Question Content Area Mar. 17. Received $325 from Shawn McNeely and wrote off the remainder owed of $500 as uncollectible. If an amount box does not require an entry, leave it blank. Date Account Debit Credit Mar. 17 - Select - - Select - - Select - - Select - - Select - - Select - Question Content Area July 29. Reinstated the account of Shawn McNeely and received $500 cash in full payment. If an amount box does not require an entry, leave it blank. Date Account Debit Credit July 29 - Select - - Select - - Select - - Select - July 29 - Select - - Select - - Select - - Select -
answer in text form please (without image), Note: .Every entry should have narration please
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Moving to another ques uestion 12 On March 1, a customer's account balance of $32,300 was deemed to be uncollectible. What entry should be recorded on March 1 to record the write-off assuming the company uses the allowance method? O Debit Bad Debts Expense $32,300; credit Accounts Receivable $32,300 O Debit Allowance for Doubtful Accounts $32,300; credit Accounts Receivable $32,300 O Debit Accounts Receivable $32,300; credit Bad Debts Expense $32,300 O Debit Allowance for Doubtful Accounts $32,300; credit Bad Debts Expense $32,300 Question 12 of 15 >>>>
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Details of Notes Receivable and Related Entries Gen-X Ads Co. produces advertising videos. During the current fiscal year, Gen-X Ads Co. received the following notes: Interest Date Face Amount Rate Term 1. Аpr. 10 $69,000 4% 60 days 2. June 24 16,800 30 days 3. July 1 72,000 120 days 4. Oct. 31 72,000 60 days 54,000 60 days 5. Nov. 15 6. Dec. 27 108,000 30 days Required: Assume 360 days in a year. 1. Determine for each note (a) the due date and (b) the amount of interest due at maturity, identifying each note by number. (a) (ь) Note Due Date Interest Due at Maturity (1) (2) (3) (4) (5) (6) O o in o +
View transaction list Journal entry worksheet 2 Record the first installment payment on October 31, 2021. Assume no reversing entries were prepared. Note: Enter debits before credits. Date October 31 General Journal Debit Credit View general journal Record entry Clear entry
b. Assume that Joey's Bike Shop uses the direct write-off method of accounting for uncollectible accounts. Answer the following questions: (1) What is the Accounts Receivable balance at December 31, Year 1? (2) What is the amount of uncollectible accounts expense for Year 1? (3) What is the net realizable value of accounts receivable at December 31, Year 1?
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