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On August 31, 2018, Daisy Floral Supply had a $135.000 debit balance in Accounts Receivable and a $5,400 credit balance in Allowance for Bad Debts. During Septem Sales on account, $590,000. Ignore Cost of Goods Sold. . Collections on account. $827,000 Write-offs of uncollectible receivables, $5,500 Read the requirements. Collections on account, $627,000 Date Accounts and Explanation Debit Credit Sep 30 Choose from any list or enter any number in the input fields and then continue to the next question Type here to search On August 31, 2018, Daisy Floral Supply had a $135,000 debit balance in Accounts Receivable and a $5,400 credit balance in Allowance 1 Sales on account, $590,000. Ignore Cost of Goods Sold. Collections on account, $627.000. Write-offs of uncollectible receivables, $5,500. Read the requirements Write-offs of uncollectible receivables, $5,500. Date Accounts and Explanation Sep 30 Debit Credit I with the C C A D Cun Choose from any list or enter any number in the input fields and then continue to the next question. On August 31, 2018, Daisy Floral Supply had a $135,000 debit balance in Accounts Receivable and a $5,400 credit balance in Allowance for Bad Det Sales on account, $590,000. Ignore Cost of Goods Sold. . Collections on account, $627,000. Write-offs of uncollectible receivables, $5,500 Read the requirements Journalize the Bad Debts Expense for September using the allowance method. Bad Debts Expense was estimated at 4% of credit sales. Date Accounts and Explanation Debit Credit Sep. 30 Dret all Cantomhor antrice in the n a to Ta nte Pallate the online holanna in each munt Enter the herinnin halanra ifalinghia Choose from any list or enter any number in the input fields and then continue to the next question On August 31, 2018 Daisy Floral Supoly had a $135.000 detit balance in Accounts Receivable and a 55.400 credit balance in Alowance for Bad Debts. During September Daisy made Sales en account. $500000. lgnore Cost of Goods Sold . Colections on account, S027.000 Write-offs of uncollectible receivables, 55.500 Read the requirements Postal September entries in the appropriate accounts and call the ending balance in each account Enter the beginning balance if applicable. Then post the transactions and calculate the account balance at September 30, 2018) Accounts Receivable Allowance for Bad Debts Bad Debt Expense Choose from any list or enter any number in the input fields and then continue to the next question - 4 On August 31, 2018 Daisy Floral Supply had a $135,000 debit balance in Accounts Receivable and a $5,400 credit balance in Allowance for Bad Debts. During September, Da Sales on account, $590,000. Ignore Cost of Goods Sold. Collections on account, S627,000. - Write-offs of uncollectible receivables, S5,500 Read the requirements Requirement 2. Using the same facts, assume that Daisy used the direct write-off method to account for uncollectible receivables. Journalize all September entries using the Receivable and Bad Debts Expense, and show their balances at September 30, 2018 then credits. Select the explanation on the last line of the journal entry table.) Begin by journalizing all September entries using the direct write-off method. (Record debits Sales on account. $590,000. Ignore Cost of Goods Sold. Date Accounts and explanation Sep. 30 SI Do 13 Choose from any list or enter any number in the input fields and then continue to the ne O Type here to search 0 L On August 31, 2018, Daisy Floral Supply had a $135,000 debit balance in Accounts Receivable and a $5,400 credit balance in Allowance for B Sales on account, $590,000. Ignore Cost of Goods Sold. Collections on account. $627,000 Write-offs of uncollectible receivables, $5,500. Read the requirements Collections on account, $627,000 Date Accounts and Explanation Debit Credit Sep. 30 Choose from any list or enter any number in the input fields and then continue to the next question. On August 31, 2018, Daisy Floral Supply had a $135,000 debit balance in Accounts Receivable and a $5,400 credit balance in Allowance for Sales on account, $590,000. Ignore Cost of Goods Sold. . Collections on account, $627,000 Write-offs of uncollectible receivables, $5,500. Read the requirements Write-offs of uncollectible receivables, $5,500 Date Accounts and Explanation Debit Credit Sep 30 On August 31, 2018, Daisy Floral Supply had a $135.000 debit balance in Accounts Receivable and a $5,400 credit balance in Allowance for Bad Debts. During September, Daisy made . Salos on account, $500,000. Ignore Cost of Goods Sold Collections on account, S627.000 - Wit-ots of uncollectible receivables. $5.500 Read the Requirement 3. What amount of Bad Debts Expense would Daisy report on its September income statement under each of the two methods? Which amount better matches expense with reveni reason Enter the amount of bad debt expense Daisy would report on its September 30, 2018 income statement under each of the two methods. Income Statement (Partial) Allowance Method Direct Writo O Method Bad Debts Expense Bad Debts Expense under the better matches expense with revenue because the expense is recorded Requirement 4. What amount Daisy report on ts September 30, 2018, balance sheet under each of the two methods? Which amount is more realistic? Give you allowance method Choose from any listoranter direct write-off method and then continue to the next question On August 31, 2018, Daisy Floral Supply had a $135,000 debit balance in Accounts Receivable and a $5,400 credit balance in Allowance for Bad Debts. During September, Daisy made - Sales on account, $500,000. Ignore Cost of Goods Sold - Collections on account. $627000 Writeos of uncollectible receivables, S5,500 Read the formers Requirement 4. What amount of net accounts receivable would Daisy report on its September 30, 2018, balance sheet under each of the two methods? Which amount is more realistic? Give your Enter the amount of net accounts receivable Daisy would report on its September balance shoot under each of the two methods. (Complete all with a 50 balance, make in the appropriate column) expects to collect Balance Sheet (Partial): Allowance Method Direct Wit-Off Method expects to write-off Accounts receivable wants to colect Less: Allowance for Bad Debts want to sell Net accounts receivable under the is more because shows the amount of the receivables that the company Choose from any list or enter any number in the input fields and then continue to the next