As of January 1, 2018, White TopWhite Top Flagpoles had accounts receivable of $27,000 and the Bad Debt Allowance had a credit balance of .$4,000

During the year, White TopWhite Top Flagpoles recorded the below data:

Requirement 1. Publish in journal

White's transactions that occurred during 2018.

The company uses the allocation method. ?(Record debits? first, then credits. Select explanation on bottom line of journal entries table.)

a.) Sales of $187,000

$163,000 in? account;

$24,000 for? cash).

Ignore the cost of goods sold. ?(Prepare a single compound journal entry?).

Date			Accounts and Explanation	Debit	Credit
2018

?(b.) Collections in? account,

$138 coma 000$138.000.

Date			Accounts and Explanation	Debit	Credit
2018

?(c.) ?Annulments of bad debts? accounts receivable,

$ 2 coma 700 $ 2,700.

Date			Accounts and Explanation	Debit	Credit
2018

Requirement 2. 

White's transactions to Accounts Receivable and Provision for Insolvencies? Accounts.

Enter beginning and daily balances? entries and then calculate the unadjusted balance for each account.

accounts receivable					Provision for bad debts

Requirement 3. Publish in journal

White'sWhite's adjustment to record bad debt expense assuming

estimated bad debts as??

9 %9%

of accounts receivable. Post the setting to the proper? T Accounts. ?(Record debits? first, then credits. Select explanation on bottom line of journal entry table.) Journalize first

White'sWhite's

adjustment to record bad debt expense.

Date			Accounts and Explanation	Debit	Credit
2018
December 31

Post the setting to the proper? Accounts.

Enter the unadjusted balances calculated in requirement 2 and the beginning balance of the bad debt expense account. Then record the fit and calculate the

decemberdecember

3131

adjusted balance of each account. ?(Enter a ? "0" on the regular side of the account for any zero balance.)

accounts receivable					Provision for bad debts
Bad debt expense

Requirement 4. Show how

White TopWhite Top

Flagpoles will report net accounts receivable in its

decemberdecember

3131?,

20182018?,

balance sheet.

Balance General (Parcial):
Current assets:

Answer rating: 100% (QA)

Here are the journal entries for White Top Flagpoles for 2018 Requirement 1 a Sales of 187000 163000 ... View the full answer