At end of 2011 tatum co has accounts receivable of 700000

Assignment Help Financial Accounting

Reference no: EM13370384

At end of 2011, Tatum Co. has accounts receivable of $700,000 and an allowance for doubtful accounts of $28,000. On 24th January, 2012, it is learned that the company's receivable from Novinger Inc. is not collectible and thus management authorizes a write-off of $2,000. On 4th March, 2012, Tatum Co. receives payment of $2,000 in full from Novinger Inc.

Create the journal entries to record the payment.

Reference no: EM13370384

Questions Cloud

From original question journal entriesnote none are simply : from original question journal entriesnote none are simply trading securities all have a specific name that coordinates

Marble had 2816 million in sales and 555 million in ending : marble had 2816 million in sales and 555 million in ending accounts receivable for present period. for the same period

Total 2008 gift of life insurance policy is 72000 annual : total 2008 gift of life insurance policy is 72000. annual exclusions are 24000 2 domes at 1200. present taxable gifts

Evaluate unit contribution margin and contribution margin : evaluate unit contribution margin and contribution margin ratiouse the subsequent data for problems 12349 amp10 luxury

At end of 2011 tatum co has accounts receivable of 700000 : at end of 2011 tatum co. has accounts receivable of 700000 and an allowance for doubtful accounts of 28000. on 24th

Evaluate breakeven and target profit volumeowner lei wong : evaluate breakeven and target profit volumeowner lei wong is consider franchising her global chopsticks restaurant

Cost - volume - profit analysisarrange contribution margin : cost - volume - profit analysisarrange contribution margin income statements.western travel uses contribution margin

A companys income statement reported total income of 80000 : a companys income statement reported total income of 80000 during 2010. the income tax return excluded a revenue item

Bonita places a coupon in every box of its product : bonita places a coupon in every box of its product. customers may send in five coupons and 3 and the company will send

User Account

All Pages