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Mastery Problem: Receivables

Fan-Tastic Sports Gear Inc.

You have just been hired as the accountant for Fan-Tastic Sports Gear Inc., a wholesaler of sporting goods and apparel. The previous accountant left abruptly in late December, 20Y7, and an accounting intern has been drafting the journal entries since January. You are examining the accounting records before finalizing the journal entries for the first quarter of 20Y8. The following journal shows some of the accounts receivable transactions that you are reviewing.

Journal

Date Description Debit Credit

Jan. 17 Sales 9,700

Bad Debt Expense 9,700

17 Bad Debt Expense 9,700

Accounts Receivable-CJs Sports Corp. 9,700

21 Cash 10,600

Bad Debt Expense 2,300

Accounts Receivable-Four Seasons Sportswear Co. 12,900

Feb. 15 Accounts Receivable-Healthy Running Inc. 3,000

Bad Debt Expense 500

Sales 3,500

Mar. 4 Accounts Receivable-Four Seasons Sportswear Co. 2,300

Bad Debt Expense 2,300

4 Cash 2,300

Bad Debt Expense 2,300

13 Cash 5,540

Accounts Receivable-Barbs Best Gear 5,540

31 Bad Debt Expense 20,870

Accounts Receivable-Healthy Running Inc. 5,250

Accounts Receivable-The Locker Room 4,100

Accounts Receivable-CJs Sports Corp. 2,780

Accounts Receivable-Get Your Gear Inc. 7,050

Accounts Receivable-Ready-2-Go

Mastery Problemeivables Fan-Tautk Sports Gear Inc. You have just be hired as the accountant for Fan-Tastic Sports Gear Inc., a wholesaler of sporting goods and apparel. The previous accountant ut abruptly in late December, 2012, and an accounting inte has been drafting the journal entries since musy. You are examining the accounting records before finalng the journal entries for the first quarter of 2018. The following our shows some of the receivable transactions that you are reviewing Journal Date Deserti Jan. 17 Sales Bad Dupa 17 Radio Accounts Receivable-c's Sports Corp 9.700 21 Cash Bad Dit Accounts Receivable-Four Seasons Sportswear Co. heuning Inc. reb, 15 Mens Recette Bad Ot RSA Har 4 Accounts Receable-Four Seasons Sportswear Co. Bad Date tad Det Exp 13 h Account Raculatie Bart's Best Guar 5,250 4,500 31 Bad Date Expanse A S Receivable-Healthy Ring in Ace Racalva-The Locker Room Mustavale porte Corp Accounts Receivable-t Your Gear Inc Accounts Receivable-Reade-2-Go 2,70 2.050 2. Finalize the journal entries shown on the Fan-Tastic Sports Gear Inc. panel and make any necessary changes. If an amount bow does not require an entry, leave it back 00 III II II II II 000100 01 III II II II II 000100