Question: help please Direct Write-Off Method Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables. Mar. 17: Received $1,820 from Paula



Direct Write-Off Method Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables. Mar. 17: Received $1,820 from Paula Spiter and wrote of the remainder owed of 54,100 as uncollectible. If an amount box does not require an entry, leave it blank. Mar. 17 July 29: Reinstated the account of Paula Spiter and received 54,100 cash in full payment. Reinstate Collect Allowance Method Journalize the following transactions, using the allowance method of accounting for uncollectible receivables Mar. 17: Received $1,830 from Keith Madhearton and wrote off the remainder twed of $1,570 ww uncollectible. an amount box does not require an entry, leave it blank Mar. 17 July 29: Reinstated the account of Keith MacPherson and received $1,570 cash in full payment. inte Cotection . o Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $275,000; Allowance for Doubtful Accounts has a debit balance of 50,000; and sales for the year total $3,940,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $36,800. a. Determine the amount of the adjusting entry for uncollectible accounts. b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable Allowance for Doubtful Accounts Bad Debt Expense c. Determine the net realizable value of accounts receivable Note Recelvable Cube Ice Company received a 120-day, 8% note for $48,000, dated April 9 from a customer on account. Assume 360 days in a year. a. Determine the due date of the note. b. Determine the maturity value of the note . c. Journalize the entry to record the receipt of the payment of the note at maturity. If an amount box does not require an entry, teava le blank. Aug
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