Assets Cash Accounts receivable Allowance for doubtful accounts Inventory Equipment Accumulated depreciation-equipment Blossom Company Balance Sheet...

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Assets Cash Accounts receivable Allowance for doubtful accounts Inventory Equipment Accumulated depreciation-equipment Blosso

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Answer 1

Answer #1

No.	Account Titles and Explanations	Debit	Credit
1.	Cash	51450
	Allowance for Doubtful debts	1400
	Accumultaed dep	5900
	Loss on Realisation	19550
	Accounts receivable		24000
	Inventory		34100
	Equipment		20200

2.	A Jamison (19550*5/10)	9775
	S Moyer (19550*3/10)	5865
	P Roper (19550*2/10)	3910
	Loss on Realisation		19550

3.	Notes payable	13500
	Accounts payable	27500
	Salaries payable	3900
	Cash		44900

4.	Cash (3910-2550)	1360
	P Roper		1360

5.	A Jamison (32500-9775)	22725
	S Moyer (20950-5865)	15085
	Cash		37810

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