ACC 281 Week 3 Individual Assignment
Week 3 Individual Assignment
University of Phoenix
The ledger of Hixson Company at the end of the current year shows Accounts Receivable 120,000, Sales 840,000, and Sales Returns and Allowances 30,000.
(a)If Hixson uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at December 31; assuming Hixson determines that Fell's 1,400 balance is uncollectible.
Bad Debt Expense
(To record uncollectible balance fro Fell)
(b)If Allowance for Doubtful Accounts has a credit balance of 2,100 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be (1) 1% of net...
Excerpt from file: ACC281Week3IndividualAssignment Week3IndividualAssignment UniversityofPhoenix ACC281 xxxxxx xxxx E93 TheledgerofHixsonCompanyattheendofthecurrentyearshowsAccountsReceivable120,000,Sales840,000,andSalesReturns andAllowances30,000. Instructions
Filesize: < 2 MB
Print Length: 11 Pages/Slides
Surround your text in
**bold**, to write a math equation use, for example,