Homework answers / question archive / on January 1 include the following balances: Accounts receivable 1,440,000 Allowance for doubtful accounts (Cr) 60,480 During the year, the following transactions were recorded: Sales (all on credit) 1,465,000 Bad debt expense 48,384 Write-off of Accounts Receivable 49,734 Collection from Accounts Receivable 1,162,000 Advances from customers 97,200 Prepare the following journal entries that happened during the year: To record bad debt expense Dr

on January 1 include the following balances: Accounts receivable 1,440,000 Allowance for doubtful accounts (Cr) 60,480 During the year, the following transactions were recorded: Sales (all on credit) 1,465,000 Bad debt expense 48,384 Write-off of Accounts Receivable 49,734 Collection from Accounts Receivable 1,162,000 Advances from customers 97,200 Prepare the following journal entries that happened during the year: To record bad debt expense Dr

Accounting

Share With

on January 1 include the following balances: Accounts receivable 1,440,000 Allowance for doubtful accounts (Cr) 60,480 During the year, the following transactions were recorded: Sales (all on credit) 1,465,000 Bad debt expense 48,384 Write-off of Accounts Receivable 49,734 Collection from Accounts Receivable 1,162,000 Advances from customers 97,200 Prepare the following journal entries that happened during the year: To record bad debt expense Dr. Cr. To record the write off Dr. Cr. To record the advances from customers Dr. Cr. The ending balance of (gross) Accounts Receivable is: The ending balance of the Allowance for Doubtful Accounts is: On December 31, the aging of Accounts Receivable was performed. The net realizable value of Accounts Receivable is 1,669,614 Record the Adjusting entry on December 31: Dr. Cr.