Nash's Trading Post, LLC uses the allowance method for estimating uncollectible accounts. Prepare joural entries to rece following transactions: (Credit account titles are automatically indented when the amount is entered. Do not indent many cou entries in the order presented in the problem.) January 5 April 15 August 21 Sold merchandise to Sue Land for $1.500, terms n/15. Received $400 from Sue Land on account. Wrote off as uncollectible the balance of the Sue Land account when she declared bankruptcy robed a check for $600 from Sue Land.
Nash's Trading Post, LLC uses the allowance method for estimating uncollectible accounts. Prepare joural entries to rece following transactions: (Credit account titles are automatically indented when the amount is entered. Do not indent many cou entries in the order presented in the problem.) January 5 April 15 August 21 Sold merchandise to Sue Land for $1.500, terms n/15. Received $400 from Sue Land on account. Wrote off as uncollectible the balance of the Sue Land account when she declared bankruptcy robed a check for $600 from Sue Land.
College Accounting (Book Only): A Career Approach
12th Edition
ISBN:9781305084087
Author:Cathy J. Scott
Publisher:Cathy J. Scott
ChapterB: Bad Debts
Section: Chapter Questions
Problem 3P
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Nash's Trading Post, LLC uses the allowance method for estimating uncollectible accounts. Prepare
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Transcribed Image Text:Nash's Trading Post, LLC uses the allowance method for estimating uncollectible accounts. Prepare journal entries to record the
following transactions: (Credit account titles are automatically indented when the amount is entered. Do not indent many d
entries in the order presented in the problem.)
January 5
April 15
August 21
October 5
Sold merchandise to Sue Land for $1,500, terms n/15.
Received $400 from Sue Land on account.
Wrote off as uncollectible the balance of the Sue Land account when she declared bankruptcy
Unexpectedly received a check for $600 from Sue Land.
Debit
Credit
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