Prepare 2 T-Accounts, one for TA/R (using the gross amount) and one for the Allowance for Doubtful Accounts. Use the information given below to complete these 2 T-Accounts. (1) In 2007, if collections on TA/R totaled $1,123, 209, write-offs of TA/R totaled $8,000, and collection of a TA/R previously written off of $40, what is the amount of Bad Debt Expense for year-end 2007? (i) Record the following journal entries: 1. Sales to customers on account during the calendar year (use the "Net Sales" figure given in the case). 2. Collections of TA/R of $1,123,209. 3. Collection of TA/R previously written off of $40. 4. Write-off of TA/R of $8,000. 5. Bad Debt Expense as an adjusting entry for the year-end.

Prepare 2 T-Accounts, one for TA/R (using the gross amount) and one for the Allowance for Doubtful Accounts. Use the information given below to complete these 2 T-Accounts. (1) In 2007, if collections on TA/R totaled $1,123, 209, write-offs of TA/R totaled $8,000, and collection of a TA/R previously written off of $40, what is the amount of Bad Debt Expense for year-end 2007? (i) Record the following journal entries: 1. Sales to customers on account during the calendar year (use the "Net Sales" figure given in the case). 2. Collections of TA/R of $1,123,209. 3. Collection of TA/R previously written off of $40. 4. Write-off of TA/R of $8,000. 5. Bad Debt Expense as an adjusting entry for the year-end.

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 1P

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