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Journalize ritters transactions during august

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Reference no: EM132506268

During August 2016, ritter company recorded the following

  1. sales of 62 100 (55,000 on account; 7,100 for cash) ignore cost of goods sold
  2. collections on account 37,800
  3. write offs of uncollectible receivables 1,690
  4. recovery of receivable previously written off 500.

Question 1: Journalize ritters transactions during august 2016, assuming ritter uses the direct write off method

Question 2: Journalize ritters transactions during august 2016 assuming ritter uses the allowance method

Reference no: EM132506268

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