Scoring 1 point per account I point per amount Perfect Score

Scoring: 1 point per account, I point per amount. Perfect Score: 18 re Unlimited uses the allowance method for recording bad debts. Prepare entries for the following selected transactions Omit explanat a. Sold merchandise on account to William Kelley, $750. baechts Prepare generalKurnal eceived a check for $350 from William Kelley and wrote off the balance he owes as uncollectible. c. Unexpectedly received a check for $400 from William Kelley. Reinstated his account and recorded the receipt of the cash. Page 1 General Journal Date Account Titie PR Accounts recevable Cash Accounts recala ble t0 12 13 15 16

Solution

a Accounts receivable 750                Sales revenue 750 b Cash 350 Allowance for doubt ful accounts 400                Accounts receivable 750 c Accounts receivable 400                Allowance for doubtful accounts 400 Cash 400            Accounts receivable 400