- Cato Limited S General Ledger Reports A Balance In Accounts Receivable Of 361 000 At The End Of December Assuming Tha 1 (7.53 KiB) Viewed 12 times
- Cato Limited S General Ledger Reports A Balance In Accounts Receivable Of 361 000 At The End Of December Assuming Tha 2 (22.99 KiB) Viewed 12 times
- Cato Limited S General Ledger Reports A Balance In Accounts Receivable Of 361 000 At The End Of December Assuming Tha 3 (19.94 KiB) Viewed 12 times
- Cato Limited S General Ledger Reports A Balance In Accounts Receivable Of 361 000 At The End Of December Assuming Tha 4 (19.3 KiB) Viewed 12 times
Assuming that Allowance for Doubtful Accounts has a debit balance of $2,200 and that uncollectible accounts are determined to be $36,100 by aging the accounts, record the adjusting entry at December 31. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Dec. 31 Debit Credit
Steering Ltd. has an Accounts Receivable amount of $340,200 and an unadjusted credit balance in Allowance for Doubtful Accounts of $9,700 at March 31. The company's accounts receivable and percentage estimates of its uncollectible accounts are as follows: Number of Days Outstanding 0-30 31-60 61-90 Over 90 Total Accounts Receivable $234,000 49,900 31,500 24,800 $340,200 Estimated Percentage Uncollectible 2% 10% 30% 50%
Prepare the adjusting entry at March 31 to record bad debts expense. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Mar. 31 Debit Credit