Matthew_McCoy_Problem 9-2A

Matthew_McCoy_Problem 9-2A - Matthew McCoy Problem 9­2A...

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Unformatted text preview: Matthew McCoy Problem 9­2A Year: 2008 Dec. 31 Dec. 31 Dec. 31 Dec. 31 Dec. 31 Year: 2009 Dec. 31 Dec. 31 Dec. 31 Dec. 31 Dec. 31 Accounts receivable Sales To record sold merchandise on credit, terms n/30. Cost of Goods Sold Merchandise inventory To record cost of Dec. 31 sale. Allowance for Doubtful Accounts Accounts receivable Wrote off uncollectible accounts receivable. Cash Accounts receivable Cash received in payment of accounts receivable. Bad Debts Expense Allowance for Doubtful Accounts To provide for bad debts as 1.3% X $655,924 remaining accts. receivable balance. Accounts receivable Sales To record sold merchandise on credit, terms n/30. Cost of Goods Sold Merchandise inventory To record cost of Dec. 31 sale. Allowance for Doubtful Accounts Accounts receivable Wrote off uncollectible accounts receivable. Cash Accounts receivable Cash received in payment of accounts receivable. Bad Debts Expense Allowance for Doubtful Accounts To record estimated bad debts. 1,347,700 982,500 20,676 671,100 29,203 1,517,800 1,302,200 32,624 1,118,100 37,396 1,347,700 982,500 20,676 671,100 29,203 1,517,800 1,302,200 32,624 1,118,100 37,396 ...
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Matthew_McCoy_Problem 9-2A - Matthew McCoy Problem 9­2A...

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