Journalize the following transactions using the allowance method of accounting for uncollectible receivables. April 1 Sold merchandise on account to Jim Dobbs, $6,300. The cost of the merchandise is $8,000. If an amount box does not require an entry, leave it blank. April 1 April 1 June 10 Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder. If an amount box does not require an entry, leave it blank. June 10 Oct. 11 Reinstated the account of Jim Dobbs and received $4,200 cash in full payment. If an amount box does not require an entry, leave it blank. Oct. 11 Oct. 11

Journalize the following transactions using the allowance method of accounting for uncollectible receivables. April 1 Sold merchandise on account to Jim Dobbs, $6,300. The cost of the merchandise is $8,000. If an amount box does not require an entry, leave it blank. April 1 April 1 June 10 Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder. If an amount box does not require an entry, leave it blank. June 10 Oct. 11 Reinstated the account of Jim Dobbs and received $4,200 cash in full payment. If an amount box does not require an entry, leave it blank. Oct. 11 Oct. 11

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 2CE: Prepare journal entries for the following sales and cash receipts transactions. (a) Merchandise is...

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Prepare journal entries for the following sales and cash receipts transactions. (a) Merchandise is sold on account for 300 plus 3% sales tax, with 2/10, n/30 cash discount terms. (b) Part of the merchandise sold in transaction (a) for 70 plus sales tax is returned for credit. (c) The balance on account for the merchandise sold in transaction (a) is paid in cash within the discount period.
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. Journalize the following transactions using the allowance method of accounting for uncollectible receivables. April 1 Sold merchandise on account to Jim Dobbs, $7,200. The cost of the merchandise is $5,400. June 10 Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder. Oct. 11 Reinstated the account of Jim Dobbs and received cash in full payment.
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Journalize the following transactions using the allowance method of accounting for uncollectible receivables. April 1 Sold merchandise on account to Jim Dobbs, $9,000. The cost of the merchandise is $7,000. If an amount box does not require an entry, leave it blank. April 1 Accounts Receivable Accounts Receivable Sales Sales April 1 Cost of Goods Sold Cost of Goods Sold Inventory Inventory June 10 Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder. If an amount box does not require an entry, leave it blank. June 10 - Select - - Select - - Select - - Select - - Select - - Select - Oct. 11 Reinstated the account of Jim Dobbs and received $6,000 cash in full payment. If an amount box does not require an entry, leave it blank. Oct. 11 Accounts Receivable-Jim Dobbs Accounts Receivable-Jim Dobbs Allowance for Doubtful Accounts Allowance for…
Journalize the following transactions using the allowance method of accounting for uncollectible receivables. April 1 Sold merchandise on account to Jim Dobbs, $9,000. The cost of the merchandise is $7,000. If an amount box does not require an entry, leave it blank. April 1 Accounts Receivable Accounts Receivable Sales Sales April 1 Cost of Goods Sold Cost of Goods Sold Inventory Inventory June 10 Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder. If an amount box does not require an entry, leave it blank. June 10 Cash Cash Allowance for Doubtful Accounts Allowance for Doubtful Accounts Accounts Receivable-Jim Dobbs Accounts Receivable-Jim Dobbs Oct. 11 Reinstated the account of Jim Dobbs and received $6,000 cash in full payment. If an amount box does not require an entry, leave it blank. Oct. 11 Accounts Receivable-Jim Dobbs Accounts Receivable-Jim…