Chp 6 problems Sheet1

Credit sales for the year totaled 910000 the

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Unformatted text preview: nce for Bad Debts balance of $3,400 (credit) at the end of the year (before any adjus+ng entry). Credit sales for the year totaled $860,000. The accountants determined that 1% of this years credit sales will ul+mately be uncollec+ble. Make the journal entry necessary to record bad debt expense for the year. PE 6 ­13 Es+ma+ng Uncollec+ble Accounts Receivable as a Percentage of Total Receivables Joplin Company had an Accounts Receivable balance of $102,000 and an Allowance for Bad Debts balance of $2,700 (credit) at the end of the year (before any adjus+ng entry). Credit sales for the year totaled $910,000. The accountant determined that 9% of the ending accounts receivable will ul+mately be uncollec+ble. Make the journal entry necessary to record bad debt expense for the year. PE 6 ­18 Warranty Expense Frampton Company has determined, based on past experience, that 15% of all +res sold will need repairs within the warra...
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This note was uploaded on 01/29/2014 for the course ACC 221 taught by Professor Julieancius during the Spring '12 term at Wisc La Crosse.

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