CHAPTER 4: REVIEW QUESTION 1. (a) Complete the cheque below ready for signature Date: 9/20/2015 To: Bing Mee Country Bank Date: 20/09/2015 For: Paper MILDLAND WA B/Fwd: 2000 Pay: Bing Mee Cash or Bearer Deposit: 600 Sub Total 2600 The Sum of : Two hundred and twenty dollars $220 This Cheque: 220 C/Fwd: 2380 Signature Mild Land Accounting No: 100850 100850 024 442 654987 (b) On the cheque completed above: (i) Who is the drawer? Midland Accounting (Jo Banks) (ii) Who is the drawee? Country Bank (iii) who is the payee? Bing Mee Chapter 8: Questions 3 (a) General Journal enteries to record Bad Debts and Allowance adjustmrnt (b) Extracts of Income Statement ans Balance Sheet General Journal of Garfield Gifts Date Details Debit Credit 6/30/2015 Bad Debts 3300 GST Collected 330 Acc Receivable. 3630 6/30/2015 Bad Debts written off as irrecoverable Doubtful Debts 6000 Allowance for Doubtful Debts 6000
Account Receivable 110 Date Details Folio Debit Credit Balance 6/30/2015 Balance $343,630 DR 6/30/2015 Bad Debts, GST 3630 $340,000 DR Allowance for Doubtful Debts 115 6/30/2015 Balance $4200 CR 6/30/2015 Doubtful Debts 6000 $10,200 CR
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- Sonia Jammal