Selected transactions for Montes Company are presented below in journal form (without explanations). Date May 5 12 15 5/5 5/5 5/15 Account Title Accounts Receivable Service Revenue Cash Accounts Receivable Cash Service Revenue 1600 2000 Debit Credit 3,800 Post the transactions to T-accounts. (Post entries in the order of journal entries presented in the question.) 3800 1,600 2,000 Cash 3,800 1,600 Accounts Receivable 5/5 2,000 1600
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.
![Selected transactions for Montes Company are presented below in journal form (without explanations).
Date
May 5
12
15
5/5
5/5
5/15
Account Title
Accounts Receivable
Service Revenue
Cash
Accounts Receivable
Cash
Service Revenue
1600
2000
Debit
3,800
3800
1,600
Post the transactions to T-accounts. (Post entries in the order of journal entries presented in the question.)
2,000
Cash
Credit
5/5
3,800
1,600
Accounts Receivable
2,000
1600](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa8e05a81-8d58-44e3-943b-1e2958fe519e%2F992268cd-cf31-4559-a4aa-17e4d42d1e34%2Fszd7f2_processed.jpeg&w=3840&q=75)
![](/static/compass_v2/shared-icons/check-mark.png)
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)