Question: XYZ Company uses the direct write oft method to account for bad debts. The company wrote off an uncollectible account receivable. Which of the following


XYZ Company uses the direct write oft method to account for bad debts. The company wrote off an uncollectible account receivable. Which of the following is the approplate journal entry Allowance for Doubtful Accounts Accounts Receivable b Bad Debt Expense Accounts Receivable c Revenue Accounts Receivable d Accounts Receivable Bad Debt Expense OaA Oba Occ Od:D Boyd Company accepted credit card payments of $12,000 for services rendered to its customers. The credit card company charges Boyd Cornpany a 4 fee for handling the transactions. Which of the following is the correct journal entry to record these credit card transactions? Credit Debit $11,520 Account Cash Service revenue Accounts Receivable credit card co. $11,520 b $11,520 Service revenue $11,520 $12,000 $480 511,520 Accounts Receivable-credit card co. Credit Card Expense Service Revenue Accounts Receivable-credit card co. Credit Card Expense Service Revenue d $11,520 480 $12,000 a. A b.B . d.D Fletcher Corporation began 2018 with a $43.000 balance in its Accounts Receivable and a $1,200 balance in its Allowance for Doubtl Accounts. The company wrote of $300 uncom during the year. Fletcher Corporation uses the percent of receivables method to estimate it uncollectible accounts. The company applies the following percentages to each pery ining of accounts receivable schedule to arrive at its 2018 year-end required allowance account balance Number of Days Past Due Receivables Amount Likely to be Uncolpetible Required Allowance Account Balance? $225 460 Current $22.500 0-30 days 9,200 5% 10% 31-60 5.100 510 1,500 25% 375 61.90 Over 90 Total SON 450 $2,020 $39,200 What is Fletcher Corporation's general journal entry to record its estimated uncollectible accounts at the end of 2015 Credit Debit 52.000 12020 D 33.000 Account Uncollectible Accounts Expense Allowance for Doubtful Account Allowance for Doubtful Accounts Uncollectible Accounts Expense Uncollectible Accounts Events Allowance for Doubtful Account Untelectible Account Expense Abowance for Doubtful Accounts 52.000 $1.200 $1.200 5020 5a20 DEC
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