Chapter 5, Problem 5.21AE

1.

To determine

To journalize: sales, collections, write-offs and uncollectible - account expense by the allowance method during July for Company PP.

2.

To determine

The ending balances in accounts receivable, allowance for uncollectible accounts and Net accounts receivable at July 31 and the amount expected to collect by Company PP.

3.

To determine

To show: the manner in which the Company PP will report its accounts receivable and net sales on its July 31 balance sheet and income statement for the month ended July31.