Making the journal entries

Reference no: EM13150961

On December 31, 2008, Jarnigan Co. estimated 2% of it's net sales of $400,000 will become uncollectible. The company recorded this amount as an addition to allowance for doubtful accounts. On May 11, 2009, Jarnigan Co. determined that Terry Freye's account was uncollectible and wrote off $1,100. On June 12, 2009, Frye paid the amount previously written off. Prepare the journal entries on December 31, 2008, May 11, 2009, and June 12, 2009.

Reference no: EM13150961

Questions Cloud

Different types of audit risk : Compare and contrast the different types of audit risk. Determine the type of risk that you think is the least detrimental and the most detrimental. Defend your answer.

Identify the null hypothesis and alternative hypothesis : Identify the null hypothesis, alternative hypothesis, test statistic, Critical Values, conclusion about the null hypothesis, and final conclusion that addresses the original claim.

How old is the rock : a rock contains .441 g of Pb-206 to every 1.00 g of U-238, assuming the rock did nto cantain any Pb-206 at the timeof its formation, how old is the rock?

What progeny are expected and in what proportions : In nasturtiums, orange and red petals are determined by alleles of one gene. A pure-breeding red line is crossed to a pure-breeding orange line, and the progeny are all orange.

Making the journal entries : On May 11, 2009, Jarnigan Co. determined that Terry Freye's account was uncollectible and wrote off $1,100. On June 12, 2009, Frye paid the amount previously written off. Prepare the journal entries on December 31, 2008, May 11, 2009, and June 12,..

Labor costs rise you may consider substituting capital : If labor costs rise you may consider substituting capital input for labor input. What factors do you need to consider when making this substitution?

Explain how much effect does measured pressures : what and how much effect does this have on the measured pressures? What is the effect on the value of?

Explain the role of energy in the carbon cycle : early earth was constantly being bombarded by meteorites, comets, and asteroids. was early earth an open system or a closed system ? explain your answer.

How many milliliters of 0.105 m hcl are needed : How many milliliters of 0.105 M HCl are needed to titrate 50.0 mL of a solution that contains 1.25 g of NaOH per liter?

User Account

All Pages