Question: Dexter Company uses the direct write-off method. March 11 Dexter determines that it cannot collect $9,500 of its accounts receivable from Leer Co. 29 Leer

that it cannot collect $9,500 of its accounts receivable from Leer Co.

29 Leer Co. unexpectedly pays its account in full to Dexter Company.

Dexter records its recovery of this bad debt. Prepare journal entries to

record the above transactions. Journal entry worksheet Received Lee's payment for principal

and interest on the note dated December 13. Assume no reversing entries

were prepared. Note: Enter debits before credits. Date General Journal Debit Credit

Jan 27 Following are transactions for Vitalo Company Nov. 1 Accepted a

$15,000, 180-day, 6% note fron Kelly White in granting a time extension

on her past-due account receivable. Dec. 31 Adjusted the year-end accounts for

the accrued interest earned on the White note. Apr. 30 white honored

her note when presented for payment. Complete the table to calculate the

interest amounts at December 31st and April 30th and use those calculated

values to prepare your journal entries (Do not round Intermediate calculations. Use

360 days a year.) Interest Amounts General Journal Complete the table to

calculate the interest amounts at December 31st and April 30th. Total Through

Dexter Company uses the direct write-off method. March 11 Dexter determines that it cannot collect $9,500 of its accounts receivable from Leer Co. 29 Leer Co. unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt. Prepare journal entries to record the above transactions. Journal entry worksheet Received Lee's payment for principal and interest on the note dated December 13. Assume no reversing entries were prepared. Note: Enter debits before credits. Date General Journal Debit Credit Jan 27 Following are transactions for Vitalo Company Nov. 1 Accepted a $15,000, 180-day, 6% note fron Kelly White in granting a time extension on her past-due account receivable. Dec. 31 Adjusted the year-end accounts for the accrued interest earned on the White note. Apr. 30 white honored her note when presented for payment. Complete the table to calculate the interest amounts at December 31st and April 30th and use those calculated values to prepare your journal entries (Do not round Intermediate calculations. Use 360 days a year.) Interest Amounts General Journal Complete the table to calculate the interest amounts at December 31st and April 30th. Total Through Maturity November 1 Through December 31 January 1 Through April 30 Principal Rate(%) Time Total interest Journal entry worksheet

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