At december 31, 2013, dustin company reported this information on its balance sheet. course hero11/17/2023 I couldn’t really complain because, even at that age, I understood that we did not have a large house and I had no real cause to be disappointed, as my family was both loving and caring. It was a small, narrow, yet oddly elongated room, large enough for a bed and a couple of chest of drawers, but not much else. As is perfectly understandable for a boy 5 years my senior, my brother eventually wished for a room of his own and as a result, I was given the room at the back of the house. I was 8 years old at the time and until then I had shared a room, quite happily, with my older brother. Compute the accounts receivable turnover and average collection period.I can’t remember exactly when it started, but my apprehension towards falling asleep seemed to correspond with my being moved into a room of my own. Prepare the journal entry to record bad debt expense for 2014, assuming that aging the accounts receivable indicates that expected bad debts are $140,000.Ĥ. Enter the January 1, 2014, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts (use T-accounts), and determine the balances.Ī/R bal. Assume that no cash discounts were taken on the collections of accounts receivable. Prepare the journal entries to record each of these five transactions. Recovery of bad debts previously written off as uncollectible. Write-offs of accounts receivable deemed uncollectible. 78,000ĭuring 2014, the company had the following transactions related to receivables.ġ. At December 31, 2013, Dustin Company reported this information on its balance sheet.Īccounts receivable.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |