Fill in the missing amounts in the accounts receivable subsidiary ledgers for Willis Spas and Pools. If required, round your intermediate and final answers to the nearest cent. ACCOUNTS RECEIVABLE LEDGER NAME: S. Rottier ADDRESS: 1008 S. 9TH St, Monona, WI 53715 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- Aug. 7 J60 1,484.00 1,484.00 Aug. 10 J60 400.00 fill in the blank 3 ACCOUNTS RECEIVABLE LEDGER NAME: L. Franklin ADDRESS: 2815 Main St, Cottage Grove, WI 53711 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- Aug. 1 J60 1,272.00 1,272.00 Aug. 22 J60 2,120.00 fill in the blank 4
Bad Debts
At the end of the accounting period, a financial statement is prepared by every company, then at that time while preparing the financial statement, the company determines among its total receivable amount how much portion of receivables is collected by the company during that accounting period.
Accounts Receivable
The word “account receivable” means the payment is yet to be made for the work that is already done. Generally, each and every business sells its goods and services either in cash or in credit. So, when the goods are sold on credit account receivable arise which means the company is going to get the payment from its customer to whom the goods are sold on credit. Usually, the credit period may be for a very short period of time and in some rare cases it takes a year.
Fill in the missing amounts in the
| ACCOUNTS RECEIVABLE LEDGER | |||||
|---|---|---|---|---|---|
| NAME: S. Rottier | ADDRESS: 1008 S. 9TH St, Monona, WI 53715 | ||||
| DATE | ITEM | POST. REF. | DEBIT | CREDIT | BALANCE |
| 20-- | |||||
| Aug. 7 | J60 | 1,484.00 | 1,484.00 | ||
| Aug. 10 | J60 | 400.00 | fill in the blank 3 |
| ACCOUNTS RECEIVABLE LEDGER | |||||
|---|---|---|---|---|---|
| NAME: L. Franklin | ADDRESS: 2815 Main St, Cottage Grove, WI 53711 | ||||
| DATE | ITEM | POST. REF. | DEBIT | CREDIT | BALANCE |
| 20-- | |||||
| Aug. 1 | J60 | 1,272.00 | 1,272.00 | ||
| Aug. 22 | J60 | 2,120.00 | fill in the blank 4 |
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