Course Hero X Bb Module 9 Assessments - ACG200 x CengageNOWv2 | Online teachin x + V X C A v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Watch George Lope... ssa https://secure.ssa.g... ssA Apply for Benefits,... @ Wordtune | Your th... Module 6 Study Aid... ) ENC 1102 quizzes F... O Module 1 Flashcard.. Q Intro Digital Literac... Chapter Nine eBook Show Me How 1. PE.09-03 ALGO Providing for Doubtful Accounts ? At the end of the current year, the accounts receivable account has a debit balance of $6,800,000 and sales for the year total $81,500,000. 2. PE.09-04 ALGO a. The allowance account before adjustment has a debit balance of $68,250. Bad debt expense is estimated at 34 of 1% of sales. b. The allowance account before adjustment has a debit balance of $68,250. An aging of the accounts in the customer ledger indicates estimated doubtful 3. EX.09-06 accounts of $575,000. c. The allowance account before adjustment has a credit balance of $45,000. Bad debt expense is estimated at 1/2 of 1% of sales. 4. EX.09-11 d. The allowance account before adjustment has a credit balance of $45,000. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $450,000. 5. EX.09-12 Determine the amount of the adjusting entry to provide for doubtful accounts under each of the assumptions (a through d) listed above. 6. EX.09-19 a. $ 543,000 X b. 7. EX.09-20 C. 8. EX.09-22 d 9. EX.09-24 Feedback 10. PR.09-06B Check My Work An estimate based on a percent of sales determines the amount of the adjusting entry based on the amount estimated for Bad Debt Expense. The amount estimated for 11. EX.09-03 Bad Debt Expense is based on a percent of sales 12. EX.09-04 An estimate based on an analysis (an aging) of accounts receivable focuses on the Allowance for Doubtful Accounts. The amount of the adjusting entry is the amount that will yield an adjusted balance in the Allowance for Doubtful Accounts equal to that estimated by the aging schedule. 1 86.F 6:42 PM I-storms Q Search 6/14/2023*Homework Help - Q&A from Onl x Bb Module 9 Assessments - ACG200 x CengageNOWv2 | Online teachin X + X -) C A v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false . . Watch George Lope... ssa https://secure.ssa.g... ssa Apply for Benefits,... @) Wordtune | Your th... * Module 6 Study Aid... Q) ENC 1102 quizzes F... O Module 1 Flashcard.. Q Intro Digital Literac... ZUTJ 2. PE.09-04 ALGO Nov. 21. Received from Mckenna Outer Wear Co., on account, a $96,000, 60-day, 3% note dated November 21 in settlement of a past due account. 3. EX.09-06 ? Dec. 31. Recorded an adjusting entry for accrued interest on the note of November 21. 4. EX.09-11 20Y4 5. EX.09-12 Jan. 20. Received payment of note and interest from Mckenna Outer Wear Co. 6. EX.09-19 Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. Assume a 360- day year when calculating interest. 7. EX.09-20 20Y3, Nov. 21 Notes Receivable 96,000 8. EX.09-22 Accounts Receivable-Mckenna Outer Wear Co. 96,000 9. EX.09-24 Dec. 31 Interest Receivable Interest Revenue 10. PR.09-06B 20Y4, Jan. 20 Cash 11. EX.09-03 Notes Receivable 6,000 12. EX.09-04 Interest Receivable Interest Revenue Progress: 8/12 items Check My Work Previous Next Assignment Score: 82.82% Save and Exit Submit Assignment for Grading 1 86.F 6:42 PM I-storms Q Search () O 6/14/2023*Homework Help - Q&A from Onl x Bb Module 9 Assessments - ACG200 x CengageNOWv2 | Online teachin X + V X -) C A v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false . .. Watch George Lope... ssa https://secure.ssa.g... ssa Apply for Benefits,... @ Wordtune | Your th... Module 6 Study Aid... () ENC 1102 quizzes F... Q Module 1 Flashcard... Q Intro Digital Literac... Apr. 18. Received a $60,000, 30-day, 7% note dated April 18 from Glenn Cross on account. 1. PE.09-03 ALGO 30. Received a $42,000, 60-day, 8% note dated April 30 from Rhoni Melville on account. 2. PE.09-04 ALGO May 18. The note dated April 18 from Glenn Cross is dishonored, and the customer's account is charged for the note, including interest. ? June 29. The note dated April 30 from Rhoni Melville is dishonored, and the customer's account is charged for the note, including interest. 3. EX.09-06 Aug. 16. Cash is received for the amount due on the dishonored note dated April 18 plus interest for 90 days at 8% on the total amount debited to Glenn Cross on May 18. 4. EX.09-11 Oct. 22. Wrote off against the allowance account the amount charged to Rhoni Melville on June 29 for the dishonored note dated April 30. 5. EX.09-12 Apr. 18 Notes Receivable 60,000 6. EX.09-19 Accounts Receivable-Glenn Cross 60,000 7. EX.09-20 Apr. 30 Notes Receivable 42,000 8. EX.09-22 Accounts Receivable-Rhoni Melville 42,000 9. EX.09-24 May 18 Accounts Receivable-Glenn Cross 10. PR.09-06B Notes Receivable Interest Revenue 11. EX.09-03 June 29 Accounts Receivable-Rhoni Melville 000 0 12. EX.09-04 Notes Receivable DOC Interest Revenue Progress: 9/12 items Check My Work Previous Next 1 86 F 6:44 PM I-storms Q Search 6/14/2023* Homework Help - Q&A from Onl x Bb Module 9 Assessments - ACG200 x CengageNOWv2 | Online teachin X + V X -) C A v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false . .. Watch George Lope... ssA https://secure.ssa.g... ssa Apply for Benefits,... @ Wordtune | Your th... * Module 6 Study Aid... () ENC 1102 quizzes F... O Module 1 Flashcard.. O Intro Digital Literac... 1. PE.09-03 ALGO Interest Revenue V 2. PE.09-04 ALGO June 29 Accounts Receivable-Rhoni Melville V ? Notes Receivable 3. EX.09-06 Interest Revenue 4. EX.09-11 Aug. 16 Cash 5. EX.09-12 Accounts Receivable-Glenn Cross 0 000 6. EX.09-19 Interest Revenue 7. EX.09-20 Oct. 22 Allowance for Doubtful Accounts Accounts Receivable-Rhoni Melville 8. EX.09-22 Feedback 9. EX.09-24 Check My Work 10. PR.09-06B Typically, the maker of a dishonored note fails to pay the note on the due date. 11. EX.09-03 Determine first if this is indeed the due date. A company that holds a dishonored note transfers the face amount of the note plus any interest due back to an accounts receivable account. 12. EX.09-04 Interest revenue is not dependent on receiving the interest at this point. Progress: 9/12 items Check My Work Previous Next > 1 86 F 6:45 PM I-storms Q Search 6/14/2023