Question: Using your knowledge of receivables transactions, determine the missing amounts. Ignore any inventory, cost of goods sold, and refund liabilities for the purposes of this
Using your knowledge of receivables transactions, determine the missing amounts. Ignore any inventory, cost of goods sold, and refund liabilities for the purposes of this question. (Hint: You may find it helpful to reconstruct the journal entries.)
| Accounts Receivable | |||||
|---|---|---|---|---|---|
| Beg. | bal. | 15,400 | 35,900 | ||
| (a) enter a debit amount | (b) enter a credit amount | ||||
| End. | bal. | (c) enter a debit balance | |||
| Sale | |||||
| 46,100 | |||||
| Allowance for Doubtful Accounts | |||||
| Beg. | bal. | 1,065 | |||
| 600 | (d) enter a credit amount | ||||
| End. | bal. | (e) enter a credit balance | |||
| Bad Debt Expense | |||||
| (d) enter a debit amount |
eTextbook and Media
Assistance Used
List of Accounts
Question Part Score
10/10
Correct answer icon
Your answer is correct.
Prepare the summary journal entries for Sunland Company. (Credit account titles are automatically indented when the amount is entered.Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
| Account Titles and Explanation | Debit | Credit |
|---|---|---|
| enter an account title to record sales on account for the year | enter a debit amount | enter a credit amount |
| enter an account title to record sales on account for the year | enter a debit amount | enter a credit amount |
| (To record sales on account for the year.) | ||
| enter an account title to record write off of accounts receivable | enter a debit amount | enter a credit amount |
| enter an account title to record write off of accounts receivable | enter a debit amount | enter a credit amount |
| (To record write off of accounts receivable.) | ||
| enter an account title to record estimate of uncollectible accounts | enter a debit amount | enter a credit amount |
| enter an account title to record estimate of uncollectible accounts | enter a debit amount | enter a credit amount |
| (To record estimate of uncollectible accounts.) |
eTextbook and Media
Assistance Used
- eTextbook
List of Accounts
Question Part Score
6/6
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