Reference no: EM132649145
Question -
PART 1 - The balance below is taken from PT Abadi's balance sheet as of December 31, 2015:
Receivables IDR 1,989,480, -
Allowance for uncollectible accounts IDR 58,590, -
Data from transactions related to business during January 2016 are as follows:
a) Total sales of Rp 7,292,600, - of which Rp 2,662,100, - are cash sales.
b) Received billing results of Rp. 3.906,260, -
c) Accounts receivable amounting to Rp 69,460, - is written off.
d) The company received merchandise returned by the customer for Rp. 975,300
e) Received a write-off which was written off in the amount of IDR 127,680, -
Requested:
1. Make the required journal entries
2. Make a journal entry based on the table that determines the loss caused by bad debt of 2% of the credit and present the financial statements!
Part 2 - On January 1, 2015 in the ledger list of PT. Karya Guna has an estimate as follows: Receivables IDR 2,750,000.
During 2016, the following transactions occurred:
10/01/2016 Sold on merchandise credit to Fa. Abadi IDR 15,000,000
25/04/2016 Receivable from PT. Forward of IDR 7,500,000
15/05/2016 It is no longer possible to collect the loan for santoso Rp 2,500,000 because the person concerned has passed away
05/06/2016 Sold with merchandise credit to PT. Horas Rp.10,000,000
15/08/2016 Received from Fa. Abadi IDR 15,000,000
20/09/2016 received receivables that were written off last year amounting to Rp.5,000,000.
Requested:
1. Make a general journal for the above transactions.
2. Make accounts receivable to accounts receivable estimates in the general ledger and present the receivables above in the financial statements!