Bad Debts and Accounts Receivable

Bad Debts and Accounts Receivable - accounts receivable....

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
The ledger of Molina Company at the end of the current year shows Accounts Receivable $92,100; Credit Sales $768,200;  and Sales Returns and Allowances $42,700.  (a) If Molina uses the direct write-off method to account for uncollectible accounts, jou uncollectible.   Date Account/Description Dec. 31 Allowance for Doubtful Accounts             Accounts receivable (b) If Allowance for Doubtful Accounts has a credit balance of $1,170 in the trial balanc
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: accounts receivable. Date Account/Description Dec. 31 Bad debts expense Allowance for doubtful accounts (c) If Allowance for Doubtful Accounts has a debit balance of $530 in the trial balance receivable. Date Account/Description Dec. 31 Bad debts expense Allowance for doubtful accounts...
View Full Document

This note was uploaded on 03/01/2012 for the course ACCOUTNING 550 taught by Professor Abner during the Spring '11 term at DeVry Houston.

Ask a homework question - tutors are online