Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. journalise the following transactions in the books

Journalise the following transactions in the books of Glenmore International- Note- Allowance for doubtful accounts...

70.2K

Verified Solution

Question

Accounting

Journalise the following transactions in the books of Glenmore International-

Note- Allowance for doubtful accounts has a debit balance of $400 and balance in accounts receivables is $80,000

The company estimated bad debts to be 2% of Accounts receivables.

The account of Jack Nelson has declared uncollectible with $4000

A customer Frank Leon, whose account was declared uncollectible has paid in full $8500 that he owed to the company.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Medical Sciences
1.2K views

Name the three different aspects of body fluids that affect animal function and are therefore typically...

Mechanical Engineering
1.2K views

What is the mean effective pressure?What is the kinematic energy correlation factor?What iscentropic?What is intercooling?

Accounting
1.2K views

Instead of a role on the audit committee, assume the role of a partner in a...

Biology
1.2K views

What will happen if red blood cells are transferred to seawater which has a very...

Biology
1.2K views

Mutations in the Pink gene p cause pink fur when homozygous Mutations in the Quirky...

Physics
1.2K views

1 1 Which of the following wavelength is not possible for an X ray tube...

Algebra
1.2K views

The number on the right represents the completely simplified form of the number on the...

Accounting
1.2K views

Christine purchased a franchise agreement to distribute electronic gadgets for 10 years. The agreement cost...

Accounting
1.2K views

Buffalo Corp., which uses IFRS, signs non-renewable, non-cancellable lease agreement to lease robotic equipment from...

Accounting
1.2K views

Use the following information to calculate cash paid for income taxes: Multiple Choice $29,100 $75,500....

Accounting
1.2K views

6. (Short-Run Loss) Suppose a firm decides to shut down in the short run. What...

Finance
1.2K views

QUESTION 7 What is the present worth of an equal series of $1000 received at...