Outdoor Equipment (OE) sells camping equipment. On December 1, the accounts receivable account had a...
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Outdoor Equipment OE sells camping equipment. On December the accounts receivable account had a balance of $ the bad debt expense account had a balance of $ and the allowance for doubtful accounts had a credit balance of $ Journalize the remaining journal entries for the year. Dec. Sold tents for $ on account with a cost of $ Determined that the total accounts of Rocky Co with an accounts receivable balance of $ and Grouse Co with an accounts receivable balance of $ were uncollectible and needed to be written off. Unexpectedly received payment from Grouse Co for $ Estimated that of accounts receivable recorded to date would be uncollectible. Required: Prepare journal entries to record the transactions. Note: Writeoff of uncollectible accounts for Rocky Co and Grouse Co should be posted separately.
Outdoor Equipment OE sells camping equipment. On December the accounts receivable account had a balance of $ the bad debt expense account had a balance of $ and the allowance for doubtful accounts had a credit balance of $ Journalize the remaining journal entries for the year.
Dec. Sold tents for $ on account with a cost of $
Determined that the total accounts of Rocky Co with an accounts receivable balance of $ and Grouse Co with an accounts receivable balance of $ were uncollectible and needed to be written off.
Unexpectedly received payment from Grouse Co for $
Estimated that of accounts receivable recorded to date would be uncollectible.
Required:
Prepare journal entries to record the transactions. Note: Writeoff of uncollectible accounts for Rocky Co and Grouse Co should be posted separately.
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