if the the right off amount is 600 dollars how do I post this to a...
if the the right off amount is 600 dollars how do I post this to a journal June 30: Recovery of a previously written off account receivable Today, an agent from George’s Home Showroom (10900) remitted a check for the account which was previously written off (June 2). Examine the subsidiary ledger for accounts receivable to find the sales invoice number and the amount of the write off. Reestablish the account for George’s Home Showroom and the receipt of the check. Two entries are required. At the invoice prompt enter RECOV.
Homework Answers
Journal entry regarding recovery of written off amount that has been treated as bad debt on june 2.
1:-Reesitimate the account of George's home showroom that has been written off by reversing the write-off entry on 30 june
| Account receivable. | $600 | |
| Allowance for Doubtful Accounts | $600 |
2:- Entry of cheque received on 30 june
| Cash | $600 | |
| Accounts receivable | $600 |
Note:- subsidiary ledger is not provided in question to examine sales invoice no .
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if the the right off amount is 600 dollars how do I post this to
a...
I only need help with the cash receipts journal. Thanks Gilder Company's chart of accounts includes...
I only need help with the cash receipts journal. Thanks
Gilder Company's chart of accounts includes the following selected accounts. 101 Cash 112 Accounts Receivable 120 Merchandise Inventory 301 O. Grider, Capital 401 Sales 414 Sales Discounts 505 Cost of Goods Sold On April 1 the accounts receivable subsidiary ledger of Grider Company showed the following balances: Ogden $1,550 Chelsea $1,200 Eggleston Co. $2,900 Baez $1,800 A/R $. (control account in general ledger) The April transactions involving the receipt of...
can you help journaize? I got my journaling right, but I'm confused how to do the balances on the accounts....
can you help journaize?
I got my journaling right, but I'm confused how to do
the balances on the accounts.
since I dont have the right numbers to begin with,, I
cant do the acct turnover or the ave collection
I dont understand. What you are seeing is a picture is
what's on my laptop screen.
Show Attempt History Current Attempt in Progress At December 31, 2016, Blossom Company Imports reported this information on its balance shee Accounts receivable Less:...
Highly Confused right now on how to go about this problem, help please? Date Transaction description...
Highly Confused right now on how to go
about this problem, help please?
Date Transaction description Obtained a loan of $52,000 from BitiBank at a simple interest rate of 6% per year. The first interest payment is due at the end of August 2020 and the principal of the loan is to be repaid on June 1, 2024. Purchased 100 copies of Barry Plotter and the Chart of Accounts from Noir Novels for $11 each, terms 2/10, n/30 Sold 80...
Could someone explain to me how they got the answers to questions I got wrong? Entries...
Could someone explain to me how they got the answers to
questions I got wrong?
Entries Related to Uncollectible Accounts
The following transactions were completed by The Wild Trout
Gallery during the current fiscal year ended December 31:
Jan. 19.
Reinstated the account of Arlene Gurley, which had been written
off in the preceding year as uncollectible. Journalized the receipt
of $2,440 cash in full payment of Arlene’s account.
Apr. 3.
Wrote off the $13,980 balance owed by Premier GS...
26 12/12 Received a check in the amount of $28,714 from Trudy's Plumbing in payment of invoic...
26 12/12 Received a check in the amount of $28,714 from Trudy's Plumbing in payment of invoice No. 1204. 27 12/12 Sold plumbing fixtures and supplies to Boecker Builders, on account, invoice No. 1207 for $24,730. 28 12/13 The Potts Company returned defective copper tubing that it purchased on December 10. A credit memo in the amount of $4,680 is issued relative to invoice No. 1206. The copper tubing had a cost of $3,550. 29 12/13 The defective copper tubing...
Problem: Rockford Corporation is a wholesale plumbing supply distributor. The corporation was organized in 1981, under...
Problem: Rockford Corporation is a wholesale plumbing supply distributor. The corporation was organized in 1981, under the laws of the State of Illinois, with an authorized capitalization of 10,000 shares of no-par common stock with a stated value of $30 per share. The common stock is sold over the counter in the local area. You have been hired as of Friday, December 26, 2014, to replace the controller, who has resigned. As controller, you are responsible for the corporation’s accounting...
Complete the Following Tasks 1. Record the following transactions in the appropriate journal . All checks...
Complete the Following Tasks 1. Record the following transactions in the appropriate journal . All checks received should be recorded in the cash receipts prelist prior to entry in the cash receipts journal Make sure to update the accounts receivables subledger if applicable November 10-BrawnyFinch Corp. purchased $46,213.00 worth of merchandise on account (invoice #527). Terms of the sale were 2/10 net 30 November 11- Thistlecadenza returned $12,014.00 worth of merchandise purchased on account. The credit memo number is 31...
Complete the Following Tasks 1. Record the following transactions in the appropriate journal . All checks...
Complete the Following Tasks 1. Record the following transactions in the appropriate journal . All checks received should be recorded in the cash receipts prelist prior to entry in the cash receipts journal Make sure to update the accounts receivables subledger if applicable November 10-BrawnyFinch Corp. purchased $46,213.00 worth of merchandise on account (invoice #527). Terms of the sale were 2/10 net 30 November 11- Thistlecadenza returned $12,014.00 worth of merchandise purchased on account. The credit memo number is 31...
Complete the Following Tasks 1. Record the following transactions in the appropriate journal . All checks...
Complete the Following Tasks 1. Record the following transactions in the appropriate journal . All checks received should be recorded in the cash receipts prelist prior to entry in the cash receipts journal Make sure to update the accounts receivables subledger if applicable November 10-BrawnyFinch Corp. purchased $46,213.00 worth of merchandise on account (invoice #527). Terms of the sale were 2/10 net 30 November 11- Thistlecadenza returned $12,014.00 worth of merchandise purchased on account. The credit memo number is 31...
Transactions June 1 The owner opened a bank account for the business with a deposit of...
Transactions
June
1
The owner opened a bank account for the business with a deposit
of $20,000. This is capital provided by him.
1
Purchased display stands, shelving etc. (shop equipment) from
Shop Displays Pty Ltd for $26,100 and computer equipment for the
shop from Computer Wizards for $4,800. These were paid for with a
loan of $26,000 from the bank and cheque for $4,900 from the
business bank account. The bank loan is repayable over 4
years.
1
Paid...
I only need help with the cash receipts journal. Thanks
Gilder Company's chart of accounts includes the following selected accounts. 101 Cash 112 Accounts Receivable 120 Merchandise Inventory 301 O. Grider, Capital 401 Sales 414 Sales Discounts 505 Cost of Goods Sold On April 1 the accounts receivable subsidiary ledger of Grider Company showed the following balances: Ogden $1,550 Chelsea $1,200 Eggleston Co. $2,900 Baez $1,800 A/R $. (control account in general ledger) The April transactions involving the receipt of...
can you help journaize?
I got my journaling right, but I'm confused how to do
the balances on the accounts.
since I dont have the right numbers to begin with,, I
cant do the acct turnover or the ave collection
I dont understand. What you are seeing is a picture is
what's on my laptop screen.
Show Attempt History Current Attempt in Progress At December 31, 2016, Blossom Company Imports reported this information on its balance shee Accounts receivable Less:...
Highly Confused right now on how to go
about this problem, help please?
Date Transaction description Obtained a loan of $52,000 from BitiBank at a simple interest rate of 6% per year. The first interest payment is due at the end of August 2020 and the principal of the loan is to be repaid on June 1, 2024. Purchased 100 copies of Barry Plotter and the Chart of Accounts from Noir Novels for $11 each, terms 2/10, n/30 Sold 80...
Could someone explain to me how they got the answers to
questions I got wrong?
Entries Related to Uncollectible Accounts
The following transactions were completed by The Wild Trout
Gallery during the current fiscal year ended December 31:
Jan. 19.
Reinstated the account of Arlene Gurley, which had been written
off in the preceding year as uncollectible. Journalized the receipt
of $2,440 cash in full payment of Arlene’s account.
Apr. 3.
Wrote off the $13,980 balance owed by Premier GS...
Complete the Following Tasks 1. Record the following transactions in the appropriate journal . All checks received should be recorded in the cash receipts prelist prior to entry in the cash receipts journal Make sure to update the accounts receivables subledger if applicable November 10-BrawnyFinch Corp. purchased $46,213.00 worth of merchandise on account (invoice #527). Terms of the sale were 2/10 net 30 November 11- Thistlecadenza returned $12,014.00 worth of merchandise purchased on account. The credit memo number is 31...
Complete the Following Tasks 1. Record the following transactions in the appropriate journal . All checks received should be recorded in the cash receipts prelist prior to entry in the cash receipts journal Make sure to update the accounts receivables subledger if applicable November 10-BrawnyFinch Corp. purchased $46,213.00 worth of merchandise on account (invoice #527). Terms of the sale were 2/10 net 30 November 11- Thistlecadenza returned $12,014.00 worth of merchandise purchased on account. The credit memo number is 31...
Complete the Following Tasks 1. Record the following transactions in the appropriate journal . All checks received should be recorded in the cash receipts prelist prior to entry in the cash receipts journal Make sure to update the accounts receivables subledger if applicable November 10-BrawnyFinch Corp. purchased $46,213.00 worth of merchandise on account (invoice #527). Terms of the sale were 2/10 net 30 November 11- Thistlecadenza returned $12,014.00 worth of merchandise purchased on account. The credit memo number is 31...
Transactions
June
1
The owner opened a bank account for the business with a deposit
of $20,000. This is capital provided by him.
1
Purchased display stands, shelving etc. (shop equipment) from
Shop Displays Pty Ltd for $26,100 and computer equipment for the
shop from Computer Wizards for $4,800. These were paid for with a
loan of $26,000 from the bank and cheque for $4,900 from the
business bank account. The bank loan is repayable over 4
years.
1
Paid...
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