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How to calculate a journal entry

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Reference no: EM132553587

Question 1: How to calculate a journal entry?

  1. Accounts receivable $78,000; credit sales $855000; sales allowance $36,000
  2. Direct write-off method for uncollectible accounts, adjusting entry dec 31, balance $750 is uncollectible.
  3. Allowance for dubtful accounts credit balance $1,150 in the trial balance, journalize the adjusting entry Dec 31, bad debts 9% of accounts receivable.
  4. Doubtful accounts debit balance $450 in the trial balance, journalize the adjusting entry Dec 31, bad debts 7% of accounts receivable.

Reference no: EM132553587

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