Learning Objective 2S9-3 Applying the direct write-off method to account for uncollectiblesSShawna Valley is an attorney in Los Angeles. Valley uses the direct write-off methoinaccount for uncollectible receivables.At April 30, 2018, Valley's accounts receivable totaled $19,000. During May, she eamarevenue of $22,000 on account and collected $15,000 on account. She also wrote offuncollectible receivables of $1,100 on May 31, 2018.Requirements1. Use the direct write-off method to journalize Valley's write-off of the uncollecihereceivables.2. What is Valley's balance of Accounts Receivable at May 31, 2018?

S9-3 Applying the direct write-off method to account for uncollectibles Shawna Valley is an attorney in Los Angeles. Valley uses the direct write-off methoin account for uncollectible receivables. At April 30, 2018, Valley's accounts receivable totaled $19,000. During May, she eame revenue of $22,000 on account and collected $15,000 on account. She also wrote off uncollectible receivables of $1,100 on May 31, 2018. Requirements 1. Use the direct write-off method to journalize Valley's write-off of the uncollectbe receivables. 2. What is Valley's balance of Accounts Receivable at May 31, 2018?

S9-3 Applying the direct write-off method to account for uncollectibles Shawna Valley is an attorney in Los Angeles. Valley uses the direct write-off methoin account for uncollectible receivables. At April 30, 2018, Valley's accounts receivable totaled $19,000. During May, she eame revenue of $22,000 on account and collected $15,000 on account. She also wrote off uncollectible receivables of $1,100 on May 31, 2018. Requirements 1. Use the direct write-off method to journalize Valley's write-off of the uncollectbe receivables. 2. What is Valley's balance of Accounts Receivable at May 31, 2018?

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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