Concept explainers
Applying the direct write-off method to account for uncollectibles
Learning Objective 2 |
Shawna Valley is an attorney in Los Angeles. Valley uses the direct write-off method to account for uncollectible receivables.
At April 30, 2018, Valley’s accounts receivable totaled $9,000. During May, she earned revenue of $22,000 on account and collected $5,000 on account. She also wrote off uncollectible receivables of $1,100 on May 31, 2018.
Requirements
1. Use the direct write-off method to journalize Valley’s write-off of the uncollectible receivables.
2 What is Valley’s balance of Accounts Receivable at May 31, 2018?
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Chapter 9 Solutions
Horngren's Accounting: The Managerial Chapters (12th Edition) (loose Leaf Version)
Additional Business Textbook Solutions
Cost Accounting (15th Edition)
Managerial Accounting (4th Edition)
Horngren's Financial & Managerial Accounting, The Managerial Chapters (6th Edition)
Horngren's Financial & Managerial Accounting, The Financial Chapters (6th Edition)
Intermediate Accounting (2nd Edition)
Principles of Accounting Volume 1
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