Record the following transactions for Pharoah Company in the general journal. (Credit account titles are automatically...

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Record the following transactions for Pharoah Company in the general journal. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) 2020 May 1 Received a $13,500, 12-months, 8% note in exchange for Mark Chamber's outstanding accounts receivable. Dec. 31 Accrued interest on the Chamber note. Closed the interest revenue account. Dec. 31 2021 May 1 Received principal plus interest on the Chamber note. (No interest has been accrued in 2021.) 3 Date ◄► Account Titles and Explanation (To record accrued interest on note.) (To close the interest revenue account.) Debit ¯¯¯¯¯ Credit m At December 31, 2019, Metlock, Inc. Company had a credit balance of $16,100 in Allowance for Doubtful Accounts. During 2020, Metlock, Inc. wrote off accounts totaling $12,500. One of those accounts ($3,300) was later collected. At December 31, 2020, an aging schedule indicated that the balance in Allowance for Doubtful Accounts should be $24,400. Prepare journal entries to record the 2020 transactions of Metlock, Inc. Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation (To record amount written off) (To reverse write-off) (To record collection of write-off) (To record estimated bad debts for the year) Debit |||| Credit ||||| The ledger of Windsor, Inc. at the end of the current year shows Accounts Receivable $101,000; Sales Revenue $841,000; and Sales Returns and Allowances $22,000. (a) (b) (c) If Windsor uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at December 31, assuming Windsor determines that L. Dole's $1,200 balance is uncollectible. If Allowance for Doubtful Accounts has a credit balance of $2,600 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 9% of accounts receivable. If Allowance for Doubtful Accounts has a debit balance of $202 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 6% of accounts receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation (a) (b) (c) Debit Credit Record the following transactions for Pharoah Company in the general journal. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) 2020 May 1 Received a $13,500, 12-months, 8% note in exchange for Mark Chamber's outstanding accounts receivable. Dec. 31 Accrued interest on the Chamber note. Closed the interest revenue account. Dec. 31 2021 May 1 Received principal plus interest on the Chamber note. (No interest has been accrued in 2021.) 3 Date ◄► Account Titles and Explanation (To record accrued interest on note.) (To close the interest revenue account.) Debit ¯¯¯¯¯ Credit m At December 31, 2019, Metlock, Inc. Company had a credit balance of $16,100 in Allowance for Doubtful Accounts. During 2020, Metlock, Inc. wrote off accounts totaling $12,500. One of those accounts ($3,300) was later collected. At December 31, 2020, an aging schedule indicated that the balance in Allowance for Doubtful Accounts should be $24,400. Prepare journal entries to record the 2020 transactions of Metlock, Inc. Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation (To record amount written off) (To reverse write-off) (To record collection of write-off) (To record estimated bad debts for the year) Debit |||| Credit ||||| The ledger of Windsor, Inc. at the end of the current year shows Accounts Receivable $101,000; Sales Revenue $841,000; and Sales Returns and Allowances $22,000. (a) (b) (c) If Windsor uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at December 31, assuming Windsor determines that L. Dole's $1,200 balance is uncollectible. If Allowance for Doubtful Accounts has a credit balance of $2,600 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 9% of accounts receivable. If Allowance for Doubtful Accounts has a debit balance of $202 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 6% of accounts receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation (a) (b) (c) Debit Credit

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Journal entries of Pharoah Company Date May 1 2020 Transaction Received a 13500 12month 8 note in exchange for Mark Chambers outstanding accounts rece... View the full answer