EBK HORNGREN'S ACCOUNTING
12th Edition
ISBN: 8220103677684
Author: Matsumura
Publisher: YUZU
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Textbook Question
Chapter 9, Problem S9.8SE
Applying the allowance method (aging-of-receivables) to account for uncollectibles
Learning Objective 3
Surf and Sun had the following balances at December 31, 2018, before the yearend adjustments:
The aging of
| Age of Accounts Receivable | |||
| 0-60 Days | Over 60 Days | Total Receivables | |
| Accounts Receivable | $78,000 | $3,000 | $81,000 |
| Estimated percent uncollectible | ×2% | ×23% | |
Requirements
1. Journalize Surf and Sun's entry to record
2. Prepare a T-account to compute the ending balance of Allowance for Bad Debts.
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Chapter 9 Solutions
EBK HORNGREN'S ACCOUNTING
Ch. 9 - 1. With good internal controls, the person who...Ch. 9 - Which of the following is a limitation of the...Ch. 9 - 3. The entry to record a write-off of an...Ch. 9 - Brickman Company uses the allowance method to...Ch. 9 - Brickman’s ending balance of accounts Receivable...Ch. 9 - During the year, Bernard Company had net credit...Ch. 9 - At December 31 year-end, Crain Company has an...Ch. 9 - Using the data in the preceding question, what...Ch. 9 - At year-end, Schultz Company has cash of $11,600,...Ch. 9 - Using the data in the preceding question, assume...
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