Business, 15.11.2019 20:31 ineedhelp2285
The ledger of nash's trading post, llc at the end of the current year shows accounts receivable $71,600; credit sales $865,890; and sales returns and allowances $40,660.
(a) if nash's trading post, llc uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at december 31, assuming nash's trading post, llc determines that matisse’s $829 balance is uncollectible.
(b) if allowance for doubtful accounts has a credit balance of $1,022 in the trial balance, journalize the adjusting entry at december 31, assuming bad debts are expected to be 10% of accounts receivable.
(c) if allowance for doubtful accounts has a debit balance of $520 in the trial balance, journalize the adjusting entry at december 31, assuming bad debts are expected to be 8% of accounts receivable.
Answers: 1
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The ledger of nash's trading post, llc at the end of the current year shows accounts receivable $71,...
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