Pittman Company records uncollectible accounts expense as they occur. Selected transactions for 2019 and 2020 are described
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Analyze: Based on these transactions, what net uncollectible accounts expense was recorded for the year 2019?
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TRANSACTIONS DATE 2019 The $1,400 account receivable of Marie Cousins is determined to be uncollectible and is to be written off. Feb. May 16 Because of the death of Heidi Martin, her account receivable of $2,200 is considered uncollectible and is to be written off. July Received $700 from Marie Cousins in partial payment of her account, which had been written off on February 7. The cash obtained has already been recorded in the cash receipts journal. There is doubt that the balance of Cousins' account will be collected. Received $700 from Marie Cousins to complete payment of her account, which had been written off on February 7. The cash obtained has already been recorded in the cash receipts journal. July 29 Aug. 18 The $850 account receivable of Neal Wilder is determined to be uncollectible and is to be written off. 2020 Sept. 28 Received $1,100 from the estate of Heidi Martin as part of the settlement of affairs. This amount is applicable to the account receivable written off on May 16, 2019. The cash obtained has already been recorded in the cash receipts journal. 2.
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GENERAL JOURNAL DATE DESCRIPTION POST REF DEBIT CREDIT 2019 Feb 7 Uncollectible Accounts Expense 1 4 ...View the full answer
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Related Book For
College Accounting Chapters 1-30
ISBN: 978-1259631115
15th edition
Authors: John Price, M. David Haddock, Michael Farina
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