Cap 8 ACC1010_Principles of Accounting I_HWTemplates_M5_M9M10.xlsx

Baker College
ACC 1010 Principles of Accounting I
Problem 8-2
a
General Journal
Description Debit Credit
Accounts Receivable 1,173,000
sales revenue 1,173,000
record the sales revenue for the year
Cash 1,175,000
Accounts receivable 1,175,000
To record collections on account for the year
17-Feb Allowance for doubtful accounts 4,000
Accounts receivable 4,000
To write off R. Lowell account
28-May Account for doubtful 3,400
to accounts recievable 3,400
To write a G. Boyd account
13-Oct Accounts receivable 600
Allowance for doubtful 600
To re instate G.Boyd account for partial recovery
13-Oct Cash 600
Accounts receivable 600
To collection G. Boyd
15-Dec Allowance for doubtful 1,600
To account receivable 1,600
reference

To write off K. Marshall account
15-Dec Boyd debt expense 10,557
Allowance for doubtful 10,557
To allowance for doubtful account
b Accounts receivable $ 129,000 Accounts receivable
Allowance for doubtful accounts (10,158) 140000
Accounts receivable, net of allowance $ 118,842 1173000
-1175000
-9000
$ 1,322,000

Allowance for doubtful accounts