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Question - Allowance Method - Journalize the following transactions, using the allowance method of accounting for uncollectible receivables:
Oct. 2. Received $1,830 from Ian Kearns and wrote off the remainder owed of $3,810 as uncollectible. If an amount box does not require an entry, leave it blank.
Oct. 2 Dec. 20. Reinstated the account of Ian Kearns and received $3,810 cash in full payment. If an amount box does not require an entry, leave it blank.
The $61 of fixed overhead is allocated as $1.18 per direct labor dollar. What will be the real effect on profit if the order is accepted
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The total cost transferred to Finished Goods for the period was $3,392,400. Journalize for the Rolling Department the conversion costs
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Raw materials inventory, June 1 $13,800. Prepare an income statement through gross profit for the month of June
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