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  1. business
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  3. supplies expense, $89.50; miscellaneous administra

supplies expense, $89.50; miscellaneous administrative expense, $58.75; and miscellaneous selling expense, $65.60. (C) Increased the...

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Accounting

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supplies expense, $89.50; miscellaneous administrative expense, $58.75; and miscellaneous selling expense, $65.60. (C) Increased the petty cash fund to $350. -7. For a business that makes advance provision for uncollectible receivables: (a) Journalize the entries to record the following (1) Record the adjusting entry at December 31, the end of the fiscal year, to provide for doubtful accounts. The accounts receivable account has a balance of $900,000, and the contra asset account before adjustment has a debit balance of $1,000. Analysis of the receivables indicates doubtful accounts of $22,000. (2) In March of the following fiscal year, the $750 owed by Saks Co. on account is written off as uncollectible. (c) Assuming that the business had been following the direct write-off procedure in accounting for uncollectible receivables, journalize the entries to record the following: (1) Recorded write-off of account of Saks Co. [(a) (2) above). (1) 12/311

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