Period of the note in days
Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off a
$800 account of a customer, C. Green. On March 9, it receives a $300 payment from Green.
Prepare the journal entry for January 31.
Prepare the entries for March 9; assume no additional money is expected
Warner Company’s year-end unadjusted trial balance shows accounts receivable of $99,000, allowance
for doubtful accounts of $600 (credit), and sales of $280,000. Uncollectibles are estimated to be 0.5% of
Prepare the December 31 year-end adjusting entry for uncollectibles
The following data are taken from the comparative balance sheets of Ruggers Company.
Accounts receivable, net