A13. Depilaciones Definitivas, S.A., presented the following transactions during 2014:

a) Hair removal services were performed for a total of $ 3,620,000, of which 45% they went on credit.

b) 60% of the services performed on credit were charged.

c) Of the pending accounts, 12% of collection was determined as uncollectible. A delinquent client signed a promissory note for $ 9,800 over 45 days at a rate of 13% per year. The pay expires on January 12, 2015.

It asks:

a) Through a ledger account, it shows the movements of the customer account and determines the balance as of December 31, 2014.

b) Prepare the journal entry to record the cancellation of uncollectible accounts (direct cancellation).

c) Determine the date the $ 9,800 promissory note was signed.

d) Decrease the amount of the promissory note from the customer account balance and calculate the new balance.

Answer rating: 100% (QA)

To solve this problem we need to follow the steps provided in the question a Ledger account for t... View the full answer