Question: Use the data presented in P62, which was selected from the records of Larker Company for the year ended December 31, 2010. Required: 1. Give

Use the data presented in P6–2, which was selected from the records of Larker Company for the year ended December 31, 2010.

Required:
1. Give the journal entries for these transactions, including the write-off of the uncollectible account and the adjusting entry for estimated bad debts. Do not record cost of goods sold. Show computations for each entry.
2. Show how the accounts related to the preceding sale and collection activities should be reported on the 2010 income statement. (Treat sales discounts as a contra-revenue.)

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Req 1 a Cash A 234000 Sales revenue R SE 234000 Cash sales for 2010 b Accounts receivable R Jones A ... View full answer

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