pr. 30: Created an aging schedule for Sir Cleansalot Cleaning for accounts receivable. Sir Cleansalot determined...
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pr. 30: Created an aging schedule for Sir Cleansalot Cleaning for accounts receivable. Sir Cleansalot determined that $5,000 of receivables outstanding for 1-30 days were 7% uncollectible, $8,000 of receivables outstanding for 31-60 days were 12% uncollectible, and $13,500 of receivables outstanding ys were 20% uncollectible. Sir Cleansalot Cleaning determined the total amount of estimated uncollectible receivables and adjusted the Allowance for Bad Debts. Assume the account had an unadjusted credit balance of $210. (Round to nearest whole dollar.) art by preparing the aging schedule for Sir Cleansalot Cleaning for accounts receivable. otal Estimated percentage uncollectible stimated total uncollectible Age of Accounts as of April 30, 2019 1-30 31-60 Days Days $ 5,000 $ 8.000 pr. 30 Bad Debts Expense part $ Allowance for Bad Debts 7 350 % $ 12 960 % Over 60 Days $ 13,500 20 $ 2,700 ssume the Allowance for Bad Debts account had an unadjusted credit balance of $210. Prepare the adjusting entry at Apr. 30. Date Accounts Debit % Total $26,500 $ 4,010 3,800 oose from any list or enter any number in the input fields and then click Check Answer. Credit repare the adjusting entry at Apr. 30 for interest on the Save First Bank note. (Use a 365-day year for your computation and round your final answer to the nearest whole dollar.) Date Accounts Debit Credit pr. 30 3,800 OMAN i More Info Apr. 1 Performed cleaning service for Dawn's D-list for $8,000 on account with terms n/20. 10 Borrowed money from Save First Bank, $40,000, making a 180 day, 9% note. 12 After discussions with Miami Rag Tag, Sir Cleansalot has determined that $125 of the receivable owed will not be collected. Wrote off this portion of the receivable. 15 Sold goods to Watertown for $10,000 on account with terms n/30. Cost of Goods Sold was $2,000. 28 Sold goods to Logan, Inc. for cash of $2,200 (cost $1,100). 28 Collected from Miami Rag Tag, $125 of receivable previously written off. 29 Paid cash for utilities of $450. 30 Created an aging schedule for Sir Cleansalot Cleaning for accounts receivable. Sir Cleansalot determined that $5,000 of receivables outstanding for 1-30 days were 7% uncollectible, $8,000 of receivables outstanding for 31-60 days were 12% uncollectible, and $13,500 of receivables outstanding for more than 60 days were 20% uncollectible. Sir Cleansalot Cleaning determined the total amount of estimated uncollectible receivables and adjusted the Allowance for Bad Debts. Assume the account had an unadjusted credit balance of $210. (Round to nearest whole dollar.) Print Done X pr. 30: Created an aging schedule for Sir Cleansalot Cleaning for accounts receivable. Sir Cleansalot determined that $5,000 of receivables outstanding for 1-30 days were 7% uncollectible, $8,000 of receivables outstanding for 31-60 days were 12% uncollectible, and $13,500 of receivables outstanding ys were 20% uncollectible. Sir Cleansalot Cleaning determined the total amount of estimated uncollectible receivables and adjusted the Allowance for Bad Debts. Assume the account had an unadjusted credit balance of $210. (Round to nearest whole dollar.) art by preparing the aging schedule for Sir Cleansalot Cleaning for accounts receivable. otal Estimated percentage uncollectible stimated total uncollectible Age of Accounts as of April 30, 2019 1-30 31-60 Days Days $ 5,000 $ 8.000 pr. 30 Bad Debts Expense part $ Allowance for Bad Debts 7 350 % $ 12 960 % Over 60 Days $ 13,500 20 $ 2,700 ssume the Allowance for Bad Debts account had an unadjusted credit balance of $210. Prepare the adjusting entry at Apr. 30. Date Accounts Debit % Total $26,500 $ 4,010 3,800 oose from any list or enter any number in the input fields and then click Check Answer. Credit repare the adjusting entry at Apr. 30 for interest on the Save First Bank note. (Use a 365-day year for your computation and round your final answer to the nearest whole dollar.) Date Accounts Debit Credit pr. 30 3,800 OMAN i More Info Apr. 1 Performed cleaning service for Dawn's D-list for $8,000 on account with terms n/20. 10 Borrowed money from Save First Bank, $40,000, making a 180 day, 9% note. 12 After discussions with Miami Rag Tag, Sir Cleansalot has determined that $125 of the receivable owed will not be collected. Wrote off this portion of the receivable. 15 Sold goods to Watertown for $10,000 on account with terms n/30. Cost of Goods Sold was $2,000. 28 Sold goods to Logan, Inc. for cash of $2,200 (cost $1,100). 28 Collected from Miami Rag Tag, $125 of receivable previously written off. 29 Paid cash for utilities of $450. 30 Created an aging schedule for Sir Cleansalot Cleaning for accounts receivable. Sir Cleansalot determined that $5,000 of receivables outstanding for 1-30 days were 7% uncollectible, $8,000 of receivables outstanding for 31-60 days were 12% uncollectible, and $13,500 of receivables outstanding for more than 60 days were 20% uncollectible. Sir Cleansalot Cleaning determined the total amount of estimated uncollectible receivables and adjusted the Allowance for Bad Debts. Assume the account had an unadjusted credit balance of $210. (Round to nearest whole dollar.) Print Done X
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Related Book For
Accounting Principles
ISBN: 978-1119411482
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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