Tutorial question 6 - TUTOR QUESTIONS FOR CHAPTER 6...

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Unformatted text preview: TUTOR QUESTIONS FOR CHAPTER 6 Accounting I Instructor: Dr. Nguyen The Loc T.A: Hoang Duc Minh, MBA Group member: Luu Quoc Tuan Le Nguyen Thanh Thanh Le Ho Cam Tu Tran Ngoc Luan E 6-25: The Packers should probably recognize revenue from season ticket sales using the proportional performance method; this means that if there are ten home games, 10% of the total amount should be recognized for each game played. E 6 -30 : June 24 , Account receivable.........................................................................................70,000 Revenue ............................................................................................................ 70,000 (Sold merchandise on credit) June 30 (2 /10, n /30 ) : Cash .....................................................................................................39,200 Sales discount ...............................................................................................800 Account receivable ........................................................................................... 40,000 (Collected cash within discount period for 40,000 credit sale) July 20 , Cash ...............................................................................................................21,000 Account receivable ........................................................................................21,000 (Collected cash for 21,000 credit sale) Sale return and allowance ................................................................................9,000 Account receivable.9,000 (Received 9,000 of returned merchandise) E 6-32 1 Allowance for bad debt 2 Allowance for bad debt 3 Allowance for bad debt 1300 1300 1300 5200 3956 3500 Bal....
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Tutorial question 6 - TUTOR QUESTIONS FOR CHAPTER 6...

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