Question

Perform the following accounting for the receivables of Hawkins & Harriss, a CPA firm, at December 31, 2014.

Requirements
1. Set up T-accounts and start with the beginning balances for these T-accounts:
■ Accounts Receivable, $303,000
■ Allowance for Uncollectible Accounts, $26,000
Post the following 2014 transactions to the T-accounts:
a. Service revenue of $1,978,000, all on account
b. Collections on account, $2,010,000
c. Write-offs of uncollectible accounts, $29,000
d. Uncollectible-account expense (allowance method), $35,000
2. What are the ending balances of Accounts Receivable and Allowance for Uncollectible Accounts?
3. Show how Hawkins & Harriss will report accounts receivable on its balance sheet at
December 31, 2014.



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  • CreatedJuly 25, 2014
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