At December 31, 2022, the trial balance of Whispering Winds Company contained the following amounts before adjustment. Accounts Receivable Allowance for Doubtful Accounts Sales Revenue (a) (b) (c) (d) Debit $183,000 Credit $1,400 953,200 Prepare the adjusting entry at December 31, 2022, to record bad debt expense, assuming that the aging schedule indicates that $10,600 of accounts receivable will be uncollectible. Repeat part (a), assuming that instead of a credit balance there is a $1,400 debit balance in Allowance for Doubtful Accounts. During the next month, January 2023, a $2,500 account receivable is written off as uncollectible. Prepare the journal entry to record the write-off. Repeat part (c), assuming that Whispering Winds Company uses the direct write-off method instead of the allowance method in accounting for uncollectible accounts receivable.

At December 31, 2022, the trial balance of Whispering Winds Company contained the following amounts before adjustment. Accounts Receivable Allowance for Doubtful Accounts Sales Revenue (a) (b) (c) (d) Debit $183,000 Credit $1,400 953,200 Prepare the adjusting entry at December 31, 2022, to record bad debt expense, assuming that the aging schedule indicates that $10,600 of accounts receivable will be uncollectible. Repeat part (a), assuming that instead of a credit balance there is a $1,400 debit balance in Allowance for Doubtful Accounts. During the next month, January 2023, a $2,500 account receivable is written off as uncollectible. Prepare the journal entry to record the write-off. Repeat part (c), assuming that Whispering Winds Company uses the direct write-off method instead of the allowance method in accounting for uncollectible accounts receivable.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter16: Accounting For Accounts Receivable

Section: Chapter Questions

Problem 10SPA: AGING ACCOUNTS RECEIVABLE An analysis of the accounts receivable of Johnson Company as of December...

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Hardys Landscape Services total revenue on account for 2018 amounted to 273,205. The company, which uses the allowance method, estimates bad debts at percent of total revenue on account. Required Journalize the following selected entries: 2012 Dec. 12Record services performed on account for E. E. Morton, 245. 31Record the adjusting entry for Bad Debts Expense. 31Record the closing entry for Bad Debts Expense. 2013 Feb. 18Write off the account of E. E. Morton as uncollectible, 245. Check Figure Adjusting entry amount, 1,366.03
The following accounts receivable information pertains to Select Distributors. A. Determine the estimated uncollectible bad debt for Select Distributors in 2018 using the balance sheet aging of receivables method. B. Record the year-end 2018 adjusting journal entry for bad debt. C. Assume there was a previous debit balance in Allowance for Doubtful Accounts of $233,180; record the year-end entry for bad debt, taking this into consideration. D. Assume there was a previous credit balance in Allowance for Doubtful Accounts of $199,440; record the year-end entry for bad debt, taking this into consideration. E. On March 21, 2019, Select Distributors identifies Aida Normans account as uncollectible in the amount of $10,890. Record the entry for identification.
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