Question: please help eith journal entries 6. On June 1, Marshall Company wrote off the accounts receivable balance of $3,000 from Wilson after determining that the


6. On June 1, Marshall Company wrote off the accounts receivable balance of $3,000 from Wilson after determining that the amount would never be collected. On October 15, Wilson was able to repay the $3,000 previously written off. Prepare the following journal entries for Marshall's books: June 1 write off of the account October 15 recovery . N 2 Date Credit Account Debit Sutherland Corporation previously sold goods to Rice Decorators on account for $70,000. On September 1, 2020, Sutherland accepted Rice's $70,000, 6-month, 6% note in settlement of Rice's account. Prepare Sutherland's required journal entries for: September 1, 2020 December 31, 2020 March 1, 2021 for the collection of the note and interest. . Debit Credit Date Account 5 Credit 8. A trial balance before adjustment included the following: Debit Accounts receivable $140,000 Allowance for doubtful accounts Sales Sales returns and allowances $8,000 $730 $610,000 Prepare the journal entry to record bad debt expense under the following scenarios: a) The estimate of uncollectible accounts is determined by taking 5% of gross accounts receivable b) The estimate of uncollectible accounts is determined by taking 1% of net sales c) What is the balance in the Allowance for doubtful accounts after making the journal entry i item a) above? d) What is the balance in the Allowance for doubtful accounts after making the journal entry item b) above? Debit Credit Account Item a) b) c) d)
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