Scenario 2: • Copy of vendor invoice # 4412 for $27,000 received on March 3 showing terms of net 30 • Payment voucher with the vendor name and amount due • Copy of the remittance advice sent to the vendor showing #4412 included in the payment to the vendor made on March 28 1. Would you enter accounting transactions? V 2. If so, what accounting entries would you make? (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List debit entry before credit entry. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. List debit entry before credit entry)

Scenario 2: • Copy of vendor invoice # 4412 for $27,000 received on March 3 showing terms of net 30 • Payment voucher with the vendor name and amount due • Copy of the remittance advice sent to the vendor showing #4412 included in the payment to the vendor made on March 28 1. Would you enter accounting transactions? V 2. If so, what accounting entries would you make? (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List debit entry before credit entry. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. List debit entry before credit entry)

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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[A] Instructions: Compute for the required item (refer to the photo below) using a yellow ruled sheet. (Show solution)
Question 16 Each entry in the accounts receivable credit column of a journal is an amount that: O Has been collected from a customer. O Has been paid to a vendor. O Will be collected from a customer. O ill be paid to a vendor.
Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables. Question Content Area Mar. 17: Received $3,240 from Shawn McNeely and wrote off the remainder owed of $5,020 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 $5,020 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 -
How do I record the current transaction?
Create a schedule of accounts receivable using the accounts receivable subsidiary ledger‘s.
Vishnu
Please don't give image format
Q: What are the journal entries for the following transactions related to Uncollectable accounts? On January 31st, accounts receivable amount to Rs=10,000. On this date, the credit manager reviews the accounts receivable and estimates that approximately Rs=850 of these accounts will prove to be uncollectable. Assume that the customer (Ali enterprise) is gone out of business and Rs=300 account receivable from the customer is now worthless. Assume for example, that a past-due account receivable in the amount of Rs=150 from XYZ was written off on March 16, 2020. All of a sudden, XYZ pays the account in full. Record the journal entry.
T F When you use a debit card to make a purchase,a financial institution is extending credit to youand expects to be paid in the future.
Sales-Related Transactions, Including the Use of Credit Cards Journalize the entries for the following transactions:
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