Shawna Valley is an attorney in Los Angeles Valley uses the direct write off method to account for uncollectible receivables At April 30, 2018, Valley 's accounts receivable totaled $19,000 During May, she earned revenue of $22,000 on account and collected $15,000 on account She also wrote off unco...

Requirement 1 Date Accounts and Explanation Debit Cr ...

Shawna Valley is an attorney in Los Angeles. Valley uses the direct write-off method to account for

Question:

Shawna Valley is an attorney in Los Angeles. Valley uses the direct write-off method to account for uncollectible receivables.
At April 30, 2018, Valley's totaled $19,000. During May, she earned revenue of $22,000 on account and collected $15,000 on account. She also wrote off uncollectible receivables of $1,100 on May 31, 2018.
Requirements
1. Use the direct write-off method to journalize Valley's write-off of the uncollectible receivables.
2. What is Valley's balance of at May 31, 2018?
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...