BioWare's year-end unadjusted trial balance shows accounts receivable of $26,000 and sales of $370,000. Uncollectibles are estimated to be 2% of sales. Prepare the December 31 year-end adjusting entry for uncollectibles using the percent of sales method. View transaction list Journal entry worksheet < 1 Record the estimate of uncollectibles. Note: Enter debits before credits. Date December 31 General Journal Debit Credit

BioWare's year-end unadjusted trial balance shows accounts receivable of $26,000 and sales of $370,000. Uncollectibles are estimated to be 2% of sales. Prepare the December 31 year-end adjusting entry for uncollectibles using the percent of sales method. View transaction list Journal entry worksheet < 1 Record the estimate of uncollectibles. Note: Enter debits before credits. Date December 31 General Journal Debit Credit

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter9: Receivables

Section: Chapter Questions

Problem 17E: Casebolt Company wrote off the following accounts receivable as uncollectible for the first year of...

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Casebolt Company wrote off the following accounts receivable as uncollectible for the first year of its operations ending December 31: a. Journalize the write-offs under the direct write-off method. b. Journalize the write-offs under the allowance method. Also, journalize the adjusting entry for uncollectible accounts. The company recorded 5,250,000 of credit sales during the year. Based on past history and industry averages, % of credit sales are expected to be uncollectible. c. How much higher (lower) would Casebolt Companys net income have been under the direct write-off method than under the allowance method?
BioWare's year-end unadjusted trial balance shows accounts receivable of $18,000 and sales of $290,000. Uncollectibles are estimated to be 2% of sales. Prepare the December 31 year-end adjusting entry for uncollectibles using the percent of sales method. View transaction list Journal entry worksheet 1 Record the estimate of uncollectibles. Note: Enter debits before credits. Date December 31 Record entry General Journal Clear entry Debit Credit View general Journal
BloWare's year-end unadjusted trial balance shows accounts receivable of $33,000 and sales of $440,000. Uncollectibles are estimated to be 2% of sales. Prepare the December 31 year-end adjusting entry for uncollectibles using the percent of sales method. View transaction list Journal entry worksheet 1 Record the estimate of uncollectibles. Note: Enter debits before credits. Date December 31 General Journal Debit Credit
Warner Company's year-end unadjusted trial balance shows accounts receivable of $108,000, allowance for doubtful accounts of $690 (credit), and sales of $370,000. Uncollectibles are estimated to be 1% of sales. Prepare the December 31 year-end adjusting entry for uncollectibles. View transaction list Journal entry worksheet < 1 Record the estimate of uncollectibles. Note: Enter debits before credits. Date December 31 General Journal Debit Credit View general Journal Record entry Clear entry
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Warner Company's year-end unadjusted trial balance shows accounts receivable of $114,000, allowance for doubtful accounts of $750 (credit), and sales of $430,000. Uncollectibles are estimated to be 1% of sales. Prepare the December 31 year-end adjusting entry for uncollectibles. View transaction list Journal entry worksheet < 1 Record the estimate of uncollectibles. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general Journal
BioWare’s year-end unadjusted trial balance shows accounts receivable of $17,000 and sales of $150,000. Uncollectibles are estimated to be 2% of sales.Prepare the December 31 year-end adjusting entry for uncollectibles using the percent of sales method.
Warner Company's year-end unadjusted trial balance shows accounts receivable of $118,000, allowance for doubtful accounts of $790 (credit), and sales of $470,000. Uncollectibles are estimated to be 1% of sales. Prepare the December 31 year-end adjusting entry for uncollectibles. View transaction list Journal entry worksheet 1 Record the estimate of uncollectibles. Note: Enter debits before credits. Date Dec 31 Record entry General Journal Clear entry Debit Credit View general journal
Warner Company's year-end unadjusted trial balance shows accounts receivable of $115,000, allowance for doubtful accounts of $760 (credit), and sales of $440,000. Uncollectibles are estimated to be 1.50% of accounts receivable. 1. Prepare the December 31 year-end adjusting entry for uncollectibles. View transaction list Journal entry worksheet 1 Record the estimate of uncollectibles. Note: nter debits before credits. Debit Credit Date General Journal Dec 31 Vlew general Journal Record entry Clear entry
Warner Company's year-end unadjusted trial balance shows accounts receivable of $106,000, allowance for doubtful accounts of $670 (credit), and sales of $350,000. Uncollectibles are estimated to be 1.50% of accounts receivable. 1. Prepare the December 31 year-end adjusting entry for uncollectibles. View transaction list Journal entry worksheet 1 Record the estimate of uncollectibles. Note: Enter debits before credits. Date Dec 31 Record entry General Journal Clear entry Debit Credit View general journal
ces Warner Company's year-end unadjusted trial balance shows accounts receivable of $104,000, allowance for doubtful accounts of $650 (credit), and sales of $330,000. Uncollectibles are estimated to be 1% of sales. Prepare the December 31 year-end adjusting entry for uncollectibles. C raw T View transaction list Journal entry worksheet 112 { + [ > prt sc } ] delete backspace home num lock end 7 A
MKE Goods’ year-end unadjusted trial balance shows accounts receivable of $198,000, allowance for doubtful accounts of $1,200 (credit), and sales of $560,000. Uncollectibles are estimated to be 1.5% of accounts receivable. 1. Prepare the December 31 year-end adjusting entry for uncollectibles.2. What amount would have been used in the year-end adjusting entry if the allowance account had a year-end unadjusted debit balance of $600?