[The following information applies to the questions displayed below.] On January 1, Year 1, the general ledger of a company includes the following account balances: Accounts Debit Credit Cash Accounts Receivable Allowance for Uncollectible Accounts $ 27,500 15,400 $ 1,650 Supplies Notes Receivable (6%, due in 2 years) 4,300 22,000 80,700 Land Accounts Payable Common Stock 12,050 102,000 34, 200 Retained Earnings Totals $149,900 $149,900 During January Year 1, the following transactions occur: January 2 Provide services to customers for cash, $53,10e. January 6 Provide services to customers on account, $90,400. January 15 Write off accounts receivable as uncollectible, $4,100. January 20 Pay cash for salaries, $33,200. January 22 Receive cash on accounts receivable, $88,000. January 25 Pay cash on accounts payable, $7,300. January 30 Pay cash for utilities during January, $15, 500.
[The following information applies to the questions displayed below.] On January 1, Year 1, the general ledger of a company includes the following account balances: Accounts Debit Credit Cash Accounts Receivable Allowance for Uncollectible Accounts $ 27,500 15,400 $ 1,650 Supplies Notes Receivable (6%, due in 2 years) 4,300 22,000 80,700 Land Accounts Payable Common Stock 12,050 102,000 34, 200 Retained Earnings Totals $149,900 $149,900 During January Year 1, the following transactions occur: January 2 Provide services to customers for cash, $53,10e. January 6 Provide services to customers on account, $90,400. January 15 Write off accounts receivable as uncollectible, $4,100. January 20 Pay cash for salaries, $33,200. January 22 Receive cash on accounts receivable, $88,000. January 25 Pay cash on accounts payable, $7,300. January 30 Pay cash for utilities during January, $15, 500.
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter14: Accounting For Uncollectible Accounts Receivable
Section: Chapter Questions
Problem 1AP
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