Jana Company uses the allowance method to account for uncollectible receivables. On July 2, Jana wrote off a $ 16,700 account receivable from customer J. Mears. On August 12, Jana unexpectedly received full payment from Mears on the previously written off account. Jana records an adjusting entry for bad debts expense of $910 on August 31. 9. Journalize Jana's write-off of the uncollectible receivable. 10. Journalize Jana's collection of the previously written off receivable. 11. Journalize Jana's adjustment for bad debts expense.

An electronics store is running a promotion where for every video game purchased, the customer receives a coupon upon checkout to purchase a second game at a 50% discount. the coupons expire in one year. the store normally recognized a gross profit margin of 40% of the selling price on video games. how would the store account for a purchase using the discount coupon?

Colorado rocky cookie company offers credit terms to its customers. at the end of 2018, accounts receivable totaled $715,000. the allowance method is used to account for uncollectible accounts. the allowance for uncollectible accounts had a credit balance of $50,000 at the beginning of 2018 and $30,000 in receivables were written off during the year as uncollectible. also, $3,000 in cash was received in december from a customer whose account previously had been written off. the company estimates bad debts by applying a percentage of 15% to accounts receivable at the end of the year. 1. prepare journal entries to record the write-off of receivables, the collection of $3,000 for previously written off receivables, and the year-end adjusting entry for bad debt expense.2. how would accounts receivable be shown in the 2018 year-end balance sheet?

The sarbanes-oxley act was passed to question 6 options: prevent fraud at public companies. replace all of the old accounting procedures with new ones. improve the accuracy of the company's financial reporting. both a and c