Chapter9_Solutions

Chapter9_Solutions - PRACTICE EXERCISES PE 91A Feb 12 Cash...

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PRACTICE EXERCISES PE 9–1A Feb. 12 Cash. ................................................................... 750 Bad Debt Expense. ............................................ 2,000 Accounts Receivable—Manning Wingard. . 2,750 June 30 Accounts Receivable—Manning Wingard. ...... 2,000 Bad Debt Expense. ....................................... 2,000 30 Cash. ................................................................... 2,000 Accounts Receivable—Manning Wingard. . 2,000 PE 9–2A Feb. 12 Cash. ................................................................... 750 Allowance for Doubtful Accounts. ................... 2,000 Accounts Receivable—Manning Wingard. . 2,750 June 30 Accounts Receivable—Manning Wingard. ...... 2,000 Allowance for Doubtful Accounts. .............. 2,000 30 Cash. ................................................................... 2,000 Accounts Receivable—Manning Wingard. . 2,000 PE 9–3A 1. $7,000 ($2,800,000 × 0.0025) Adjusted Balance 2. Accounts Receivable. .................................................... $500,000 Allowance for Doubtful Accounts ($4,000 + $7,000). .. 11,000 Bad Debt Expense. ........................................................ 7,000 3. Net realizable value ($500,000 – $11,000). ................... $489,000 264
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This note was uploaded on 05/18/2010 for the course AC ACCOUNTING taught by Professor Jgh during the Spring '10 term at Kaplan University.

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Chapter9_Solutions - PRACTICE EXERCISES PE 91A Feb 12 Cash...

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