Journalize Various Accounts Receivable Transactions

Journalize Various Accounts Receivable Transactions -...

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Unformatted text preview: (Journalize Ha rid-us Accounis Receivable Transaclions] The balance sheet of Antonio Vivaldi IComrJianl,r at December 31, 2009, includes the following. Notes receivable $36,000 Accounts receivable 102,100 Less: Allowance for doubtful accounts 1?,300 200,300 Transactions in 2010 include the following. 1. Accounts receivable of $138,000 were collected including accounts of $60,000 on which 2% sales discounts were allowed. 2. $5,300 was received in payment ofan account which was written oFfthe books as worthless in 2010. (Hint: Reestablish the receivable account.) 3. Customer accounts of $133500 were written offduring the year. 4. At 1”rear—end the Allowance for Doubtful Accounts was efiimated to need a balance of $20,000. This estimate is based on an analysis of aged accounts receivable. Prepare all journal entries necessaryr to reflect the transactions above. {Li-st multiple debltfcredfl entries fi'bm largest to smallest awn-aim, e.g. m, 5, 2.] ...
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