Maple Foods, Inc., experienced the following revenue and accounts receivable write-offs EEB (Click the icon to view the revenue and accounts recelvable write-off information.) Suppose Maple estimates that 4% of (gross) revenues will become uncollectible. Assume all revenues are on credit. Read the requirement. Begin by preparing the journal entry for service revenue for the month of March. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journal Entry Requirement Date Accounts and Explanations Debit Credit Mar Accounts Receivable 4,400 Service Revenue 4,400 1. Journalize service revenue (all on account), uncollectible accounts expense and write-offs during March. Include explanations Recorded revenue on account Print Done Now, prepare the journal entry for uncollectible expense for the month of March. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journal Entry Date Accounts and Explanations Debit Credit Data Table Mar Service Accounts Receivable Write-Offs in Month Totals Month January 3,300 $ February March Revenue January February March 52 $ 146 135 110 391 94 3,100 4,400 110 $ 25 110 135 $ $10,800 $ 52 $ 204 $ Print Done

Question

Answer all questions. Ch. 5-3

Maple Foods, Inc., experienced the following revenue and accounts receivable write-offs
EEB (Click the icon to view the revenue and accounts recelvable write-off information.)
Suppose Maple estimates that 4% of (gross) revenues will become uncollectible. Assume all revenues are on credit.
Read the requirement.
Begin by preparing the journal entry for service revenue for the month of March. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)
Journal Entry
Requirement
Date
Accounts and Explanations
Debit
Credit
Mar
Accounts Receivable
4,400
Service Revenue
4,400
1. Journalize service revenue (all on account), uncollectible accounts expense
and write-offs during March. Include explanations
Recorded revenue on account
Print Done
Now, prepare the journal entry for uncollectible expense for the month of March. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)
Journal Entry
Date
Accounts and Explanations
Debit
Credit
Data Table
Mar
Service
Accounts Receivable Write-Offs in Month
Totals
Month
January 3,300 $
February
March
Revenue January February
March
52 $
146
135
110
391
94
3,100
4,400
110 $
25
110
135 $
$10,800 $
52 $
204 $
Print Done

Image Transcription

Maple Foods, Inc., experienced the following revenue and accounts receivable write-offs EEB (Click the icon to view the revenue and accounts recelvable write-off information.) Suppose Maple estimates that 4% of (gross) revenues will become uncollectible. Assume all revenues are on credit. Read the requirement. Begin by preparing the journal entry for service revenue for the month of March. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journal Entry Requirement Date Accounts and Explanations Debit Credit Mar Accounts Receivable 4,400 Service Revenue 4,400 1. Journalize service revenue (all on account), uncollectible accounts expense and write-offs during March. Include explanations Recorded revenue on account Print Done Now, prepare the journal entry for uncollectible expense for the month of March. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journal Entry Date Accounts and Explanations Debit Credit Data Table Mar Service Accounts Receivable Write-Offs in Month Totals Month January 3,300 $ February March Revenue January February March 52 $ 146 135 110 391 94 3,100 4,400 110 $ 25 110 135 $ $10,800 $ 52 $ 204 $ Print Done

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