uring the first quarter. a. During January, the company provided services for $50,000 on credit. b. On January 31, the company estimated bad debts using 1 percent of credit sales. c. On February 4, the company collected $25,000 of accounts receivable. d. On February 15, the company wrote off $150 account receivable. e. During February, the company provided services for $40,000 on credit. f. On February 28, the company estimated bad debts using 1 percent of credit sales. g. On March 1, the company loaned $2,200 to an employee, who signed a 6% note, due in 6 months. h. On March 15, the company collected $150 on the account written off one month earlier. 1. On March 31, the company accrued interest earned on the note. J. On March 31, the company adjusted for uncollectible accounts, based on the following aging analysis, which include the preceding transactions (as well as others not listed). Prior to the adjustment, Allowance for Doubtful Accounts ha: an unadjusted credit balance of $1,300.

uring the first quarter. a. During January, the company provided services for $50,000 on credit. b. On January 31, the company estimated bad debts using 1 percent of credit sales. c. On February 4, the company collected $25,000 of accounts receivable. d. On February 15, the company wrote off $150 account receivable. e. During February, the company provided services for $40,000 on credit. f. On February 28, the company estimated bad debts using 1 percent of credit sales. g. On March 1, the company loaned $2,200 to an employee, who signed a 6% note, due in 6 months. h. On March 15, the company collected $150 on the account written off one month earlier. 1. On March 31, the company accrued interest earned on the note. J. On March 31, the company adjusted for uncollectible accounts, based on the following aging analysis, which include the preceding transactions (as well as others not listed). Prior to the adjustment, Allowance for Doubtful Accounts ha: an unadjusted credit balance of $1,300.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 6EB: Olena Mirrors records bad debt using the allowance, balance sheet method. They recorded $343,160 in...

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Catherines Cookies has a beginning balance in the Accounts Receivable control total account of $8,200. $15,700 was credited to Accounts Receivable during the month. In the sales journal, the Accounts Receivable debit column shows a total of $12,000. What is the ending balance of the Accounts Receivable account in the general ledger?
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