During 2013, Jimmy Enterprises completed the following transactions: a.Sales revenue on account, $620,000. b.Collections on account, $365,000
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Question:
During 2013, Jimmy Enterprises completed the following transactions:
- a.Sales revenue on account, $620,000.
- b.Collections on account, $365,000
- c.Write-offs of uncollectibles, $15,000
- d.Uncollectible account expense, 4% of sales revenue
Required:
- Start with an accounts receivable balance of $435,000 and post the above entries to the Accounts Receivable T-Account.
Related Book For
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
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