Accounting for receivables chapter 9 homework

Prepare narrative entries to archives the aloft clarified confidence card transactions of Levine Company.

 

 

Exercise 9-3 Straightforward write-impromptu order LO P1

Dexter Company applies the straightforward write-impromptu order in representationing restraint uncollectible representations.

  

March 11

Dexter determines that it cannot glean $45,000 of its representations receivable from its customer Lester Company.

  29

Lester Company unexpectedly pays its representation in ample to Dexter Company. Dexter archivess its resuscitation of this indisposed obligation.

  

Prepare narrative entries to archives the aloft clarified transactions of Dexter.

 

 

 

Exercise 9-4 Percent of sales order; write-impromptu LO P2

At year-end (December 31), Chan Company loves its indisposed obligations as 0.5% of its annual confidence sales of $975,000. Chan archivess its Indisposed Obligations Expense restraint that love. On the forthcoming February 1, Chan decides that the $580 representation of P. Park is uncollectible and writes it impromptu as a indisposed obligation. On June 5, Park unexpectedly pays the aggregate previously written impromptu.

  

Prepare the narrative entries of Chan to archives these transactions and events of December 31, February 1, and June 5.

 

 

 

 

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