October 1, 20X2, records of Tower Communications include these accounts: Accounts Receivable 250.000 Allowance for...
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October 1, 20X2, records of Tower Communications include these accounts: Accounts Receivable 250.000 Allowance for Uncollectible Accounts (8,200) At year-end, the company ages its receivables and adjusts the balance in Allowance for Uncollectible Accounts to correspond to the aging schedule. During the last quarter of 20X2, the company completed the following selected transactions: Requirement 1. Record the transactions in the journal. Explanations are not required November 30, 20X2: Wrote off as uncollectible the $1,200 account receivable from Rothesay Carpets and the $500 account receivable from Somerset Antiques. (Record debits first, then credits. Exclude explanations from journal entries.) December 31, 20X2: One of its customers, Plaza Ltd., agreed to sign a 60-day note receivable to replace the $1,900 accounts receivable due on that day. December 31, 20X2: Adjusted the Allowance for Uncollectible Accounts and recorded Bad Debt Expense at year-end, based on the aging of receivables. (Record debits first, then credits. Exclude
October 1, 20X2, records of Tower Communications include these accounts:
Accounts Receivable
250.000
Allowance for Uncollectible Accounts
(8,200)
At year-end, the company ages its receivables and adjusts the balance in Allowance for Uncollectible Accounts to correspond to the aging schedule. During the last quarter of 20X2, the company completed the following selected transactions:
Requirement 1. Record the transactions in the journal. Explanations are not required
November 30, 20X2: Wrote off as uncollectible the $1,200 account receivable from Rothesay Carpets and the $500 account receivable from Somerset Antiques. (Record debits first, then credits. Exclude explanations from journal entries.)
December 31, 20X2: One of its customers, Plaza Ltd., agreed to sign a 60-day note receivable to replace the $1,900 accounts receivable due on that day.
December 31, 20X2: Adjusted the Allowance for Uncollectible Accounts and recorded Bad Debt Expense at year-end, based on the aging of receivables. (Record debits first, then credits. Exclude
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