How would you journal the bad debt expense

Assignment Help Accounting Basics

Reference no: EM133475200

Case: Question around writing off Bad Debt in general journal.

The original transaction was a sale $1498.00 (incl GST) was sold on a credit account.,

A/C Receivable Control $1498 DR

Sales $1361.82 CR

GST Collected $136.18 CR

The Company received deposit of $1000 for this sale.

The remainder $498 (incl GST) must be written off due to the company closing down.

Question: How would you journal the Bad Debt Expense and GST component.

Reference no: EM133475200

Questions Cloud

Prepare general journal and general ledger : Journalize the transactions and Open ledger accounts and post the transactions - Prepare general journal and general ledger

Describe how forces of diffusion and electrostatic pressure : Describe how the forces of diffusion and electrostatic pressure work collectively to facilitate electrochemical communication.

Identify the research question in the study article : Identify the research question in the study article. Describe the additional references/sources used by the author to support her question.

Is your client correct and what would you do in this case : When you raise this issue with your client, they are quick to reply that the employee is a part-time employee and not subject to nanny tax

How would you journal the bad debt expense : How would you journal the Bad Debt Expense and GST component - The original transaction was a sale $1498.00 (incl GST) was sold on a credit account

What is the amount of the business combination valuation : The company tax rate was 30%. What is the amount of the business combination valuation reserve that will be recognised on consolidation

How you used it to better understand and memorize techniques : Once you have found your source, you explain it in detail. Discuss why it was helpful and how you used it to better understand and memorize various techniques.

What abnormalities their deficiency cause on red blood cells : Why Vitamin B12 and folic acid are important on the erythropoiesis? What abnormalities their deficiency might cause on the red blood cells?

Identify the internal control weakness over cash receipts : Identify the internal control weakness over cash receipts and What could you do to correct the weakness

User Account

All Pages