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Uncollectible Accounts-Percentage of Receivables Tammie's Toyota Sales and Service estimates the amount of uncolle the percentage of receivables method. Based on aging the accounts $3,750 will not be collected. Record the end-of-period adjusting ent in general journal form, for the estimated uncollectible accounts. As independent conditions existed prior to the adjustment: 1. Allowance for Doubtful Accounts has a credit balance of $690. Page: DOC. POST. NO. REF. DATE ACCOUNT TITLE DEBIT CREDIT 20-- Dec. 31 2 2 2. Allowance for Doubtful Accounts has a debit balance of $275. Page: DOC. POST. NO. REF. DATE ACCOUNT TITLE DEBIT CREDIT 20-- 1 Dec. 31 88

Uncollectible Accounts-Percentage of Receivables Tammie's Toyota Sales and Service estimates the amount of uncolle the percentage of receivables method. Based on aging the accounts $3,750 will not be collected. Record the end-of-period adjusting ent in general journal form, for the estimated uncollectible accounts. As independent conditions existed prior to the adjustment: 1. Allowance for Doubtful Accounts has a credit balance of $690. Page: DOC. POST. NO. REF. DATE ACCOUNT TITLE DEBIT CREDIT 20-- Dec. 31 2 2 2. Allowance for Doubtful Accounts has a debit balance of $275. Page: DOC. POST. NO. REF. DATE ACCOUNT TITLE DEBIT CREDIT 20-- 1 Dec. 31 88

FINANCIAL ACCOUNTING
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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Uncollectible Accounts-Percentage of Receivables Tammie's Toyota Sales and Service estimates the amount of uncolle the percentage of receivables method. Based on aging the accounts $3,750 will not be collected. Record the end-of-period adjusting ent in general journal form, for the estimated uncollectible accounts. As independent conditions existed prior to the adjustment: 1. Allowance for Doubtful Accounts has a credit balance of $690. Page: DOC. POST. NO. REF. DATE ACCOUNT TITLE DEBIT CREDIT 20-- 1 Dec. 31 2 2. Allowance for Doubtful Accounts has a debit balance of $275. Page: DOC. POST. NO. REF. DATE ACCOUNT TITLE DEBIT CREDIT 20-- 1 Dec. 31 1
Transcribed Image Text:Uncollectible Accounts-Percentage of Receivables Tammie's Toyota Sales and Service estimates the amount of uncolle the percentage of receivables method. Based on aging the accounts $3,750 will not be collected. Record the end-of-period adjusting ent in general journal form, for the estimated uncollectible accounts. As independent conditions existed prior to the adjustment: 1. Allowance for Doubtful Accounts has a credit balance of $690. Page: DOC. POST. NO. REF. DATE ACCOUNT TITLE DEBIT CREDIT 20-- 1 Dec. 31 2 2. Allowance for Doubtful Accounts has a debit balance of $275. Page: DOC. POST. NO. REF. DATE ACCOUNT TITLE DEBIT CREDIT 20-- 1 Dec. 31 1
Uncollectible Accounts-Percentage of Sales Ryan's Express has total credit sales for the year of $185,000 and e its credit sales will be uncollectible. Record the end-of-period adjust December 31, in general journal form, for the estimated bad debt e following independent conditions existed prior to the adjustment: 1. Allowance for Doubtful Accounts has a credit balance of $925. Page: DOC. POST. NO. REF. DATE ACCOUNT TITLE DEBIT CREDIT 20-- 1 Dec. 31 8: 1 2 2 2. Allowance for Doubtful Accounts has a debit balance of $385. Page: DOC. POST. NO. REF. DATE ACCOUNT TITLE DEBIT CREDIT 20-- 1 Dec. 31 1 2 2 3A
Transcribed Image Text:Uncollectible Accounts-Percentage of Sales Ryan's Express has total credit sales for the year of $185,000 and e its credit sales will be uncollectible. Record the end-of-period adjust December 31, in general journal form, for the estimated bad debt e following independent conditions existed prior to the adjustment: 1. Allowance for Doubtful Accounts has a credit balance of $925. Page: DOC. POST. NO. REF. DATE ACCOUNT TITLE DEBIT CREDIT 20-- 1 Dec. 31 8: 1 2 2 2. Allowance for Doubtful Accounts has a debit balance of $385. Page: DOC. POST. NO. REF. DATE ACCOUNT TITLE DEBIT CREDIT 20-- 1 Dec. 31 1 2 2 3A
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