Chapter 6 - E6-14$250,000 X 3.5% = $8,750$50,000 X 10% =...

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Unformatted text preview: E6-14$250,000 X 3.5% = $8,750$50,000 X 10% = $5,000$30,000 X 30% = $9,000Bad Debt Expense (+E, -SE)$22,750Allowance for doubtful accounts (+XA, -A)$22,750Accounts Receivable (Gross) Allowance for Doubtful Accounts = Accounts Receivable (Net)$330,000 22,750 = 307,250P6-51.(1) 5,000 + 1,000 = 6,000(2) 3,800 + 8,000 + 5,000 = 16,800(3) 4,000 + 4,000 + 4,500 = 12,5002.6/30/2010 = (4,000) x 30% = 12001/31/2011 = (3,800) x 7% = 2664/15/2011 = (8,000) x 7% = 56011/30/2011 = (5,000) x 2% = 10012/15/2011 = (1,000) x 2% = 204/15/2009 = (4,000) x 30% = 120010/15/2010 = (4,500) x 30% = 13503/1/2011 = (5,000) x 7% = 350(1) $120(2) $1,176(3)$3,750Total = $5,0463. Bad Debt Expense (+E, -SE)$5,046Allowance for doubtful accounts (+XA, -A)$5,0464.Accounts Receivable (Gross) Allowance for Doubtful Accounts = Accounts Receivable (Net)$35,300 5,046 = 30,254P6-6Builders Company Inc.Income StatementFor the Years Ended December 31, 2009(dollars)Years Ended December31Net revenue$133,600Cost of Goods Sold...
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This note was uploaded on 10/21/2009 for the course H ADM 223 taught by Professor Pstrebel during the Spring '07 term at Cornell University (Engineering School).

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Chapter 6 - E6-14$250,000 X 3.5% = $8,750$50,000 X 10% =...

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