6. For each transaction below: record the journal entries and cumulative T Accounts for: (1) Accounts...

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6. For each transaction below: record the journal entries and cumulative T Accounts for: (1) Accounts Receivable transactions and (2) Allowance for Doubtful Accounts transactions [Beginning Balance: $ 30,000]. Transactions A - D are related and shouldn't be treated separately. Transaction E is a separate item and does not need to be added to the T-Accounts. A) On Oct. 10th, Mrs. T's Pizza Shop sold $1,500,450 of merchandise on accounts, that had a cost of $760,000, on credit terms n/30. B) On Oct. 20th, Mrs. T's Pizza Shop wrote off $15,250 of uncollectible accounts receivable. C) On Oct. 25th, Mrs T's Pizza Shop Received $500,000 cash in payment of accounts receivable. D) On Oct. 31st, in adjusting the accounts on October 31st, Mrs. T determined that 2% of accounts receivable will be uncollectible. E) On Dec. 18th, a customer whose account was previously written off, made a $10,000 payment to pay off their delinquent account. 6. For each transaction below: record the journal entries and cumulative T Accounts for: (1) Accounts Receivable transactions and (2) Allowance for Doubtful Accounts transactions [Beginning Balance: $ 30,000]. Transactions A - D are related and shouldn't be treated separately. Transaction E is a separate item and does not need to be added to the T-Accounts. A) On Oct. 10th, Mrs. T's Pizza Shop sold $1,500,450 of merchandise on accounts, that had a cost of $760,000, on credit terms n/30. B) On Oct. 20th, Mrs. T's Pizza Shop wrote off $15,250 of uncollectible accounts receivable. C) On Oct. 25th, Mrs T's Pizza Shop Received $500,000 cash in payment of accounts receivable. D) On Oct. 31st, in adjusting the accounts on October 31st, Mrs. T determined that 2% of accounts receivable will be uncollectible. E) On Dec. 18th, a customer whose account was previously written off, made a $10,000 payment to pay off their delinquent account.

Answer rating: 100% (QA)

General Journal Date AccountExplanation PR Debit Credit 10Oct Accounts Receivable 15004... View the full answer