Johnson company's financial year ended on December 31, 2010. All the transactions related to the company's uncollectible accounts are can be found below: Wrote of $440 account of Miller Company as uncollectible Re-establish the account of Louisa Teller and record the collection of $1,050 as payment in full for her account which had been written off earlier Received 40% of the $700 balance owed by William John and wrote off the remainder as uncollectible Wrote off as uncollectible the accounts of Sherwin Company, $1,700 and V. Vasell $2,200 Received 25% of the $1,140 owed by Grant Company and wrote off the remainder as uncollectible Received $741 from M. Fuller in full payment of his account which had been written off earlier as uncollectible_ Estimated uncollectible accounts expense for the year to be 1.5% of net credit sales of $521,000 January 15 April 2 July 31 August 15 September 26 October 16 December 31 The accounts receivable account had a balance of $114,630 and the beginning balance in the allowance for uncollectible accounts was $6,200. Required: 1. Prepare journal entries for each transaction.

Financial Accounting
15th Edition
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Author:Carl Warren, James M. Reeve, Jonathan Duchac
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Chapter9: Receivables
Section: Chapter Questions
Problem 17E: Casebolt Company wrote off the following accounts receivable as uncollectible for the first year of...
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Johnson company's financial year ended on December 31, 2010. All the
transactions related to the company's uncollectible accounts are can be found
below:
January 15
Wrote of $440 account of Miller Company as
uncollectible
Re-establish the account of Louisa Teller and
record the collection of $1,050 as payment in
full for her account which had been written
off earlier
Received 40% of the $700 balance owed by
William John and wrote off the remainder as
uncollectible
Wrote off as uncollectible the accounts of
Sherwin Company, $1,700 and V. Vasell
$2,200
Received 25% of the $1,140 owed by Grant
Company and wrote off the remainder as
uncollectible
Received $741 from M. Fuller in full payment
of his account which had been written off
earlier as uncollectible
Estimated uncollectible accounts expense for
the year to be 1.5% of net credit sales of
$521,000
April 2d
July 31
August 15
September 26
October 16
December 31
The accounts receivable account had a balance of $114,630 and the beginning balance in the
allowance for uncollectible accounts was $6,200.
Required:
1. Prepare journal entries for each transaction.
Transcribed Image Text:Johnson company's financial year ended on December 31, 2010. All the transactions related to the company's uncollectible accounts are can be found below: January 15 Wrote of $440 account of Miller Company as uncollectible Re-establish the account of Louisa Teller and record the collection of $1,050 as payment in full for her account which had been written off earlier Received 40% of the $700 balance owed by William John and wrote off the remainder as uncollectible Wrote off as uncollectible the accounts of Sherwin Company, $1,700 and V. Vasell $2,200 Received 25% of the $1,140 owed by Grant Company and wrote off the remainder as uncollectible Received $741 from M. Fuller in full payment of his account which had been written off earlier as uncollectible Estimated uncollectible accounts expense for the year to be 1.5% of net credit sales of $521,000 April 2d July 31 August 15 September 26 October 16 December 31 The accounts receivable account had a balance of $114,630 and the beginning balance in the allowance for uncollectible accounts was $6,200. Required: 1. Prepare journal entries for each transaction.
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