P7-6Solution - 5,300 Accounts Receivable 5,300 –3–...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
PROBLEM 7-6
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
–1– Cash ............................................................................. 136,800* Sales Discounts .......................................................... 1,200 Accounts Receivable ........................................ 138,000 *[$138,000 – ($60,000 X 2%)] –2– Accounts Receivable ................................................. 5,300 Allowance for Doubtful Accounts ................... 5,300 Cash .............................................................................
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 5,300 Accounts Receivable. ....................................... 5,300 –3– Allowance for Doubtful Accounts. ............................ 17,500 Accounts Receivable. ....................................... 17,500 –4– Bad Debt Expense. ..................................................... 14,900 Allowance for Doubtful Accounts. .................. 14,900* *($17,300 + $5,300 – $17,500 = $5,100; $20,000 – $5,100 = $14,900)...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern