Baratheon Computer Sales has net credit sales of $550,000 in 2016, snd, price to

Question

Baratheon Computer Sales has net credit sales of $550,000 in 2016, snd, price to djstrnent, a of $600 in the Allowance for Doubtful Accounts at year end. As of December 31,2016, $130,000 of accounts receivble emain uncollected. Baratheon's crodit manager eti tos 5,20 Instructions (a) Prepare the adjusting entry to record the estimated uncollectible accounts expense in 2016 manager estimates that $5,200 will prove to be uncollectible General Journal Date Account Title Credit (b) On March 4, 2017, the credit manager authorizes a write-off of the $1,000 account owod by Martel s, Inc. On March 4, before the write-off, assume the balance of the Accounts Receivable Consultant account is $140,000 and the balance in Allowance for Doubtful Accounts is a credit of 94,000. Journalize the appropriate entry to recard the write-off of Martel's account. General Journal Date Account Title Debit Credit (e) On July 22, 2017 Baratheon is able to collect the Martel Consultants account written-off in March Debit Credit Date Account Title (d) Prepare the journal entry to record the write-off of Martel Consultants, Inc.'s account on March 4, 2017 (above, part b.) assuming instead that Baratheon Computer Sales uses the Direct Write-off method. General Journal Debit Credit Date Account Title

Explanation / Answer

a 31-Dec Bad debts expense 5800 =5200+600       Allowance for uncollectible accounts 5800 b 4-Mar Allowance for uncollectible accounts 1000        Accounts Receivable 1000 c 22-Jul Accounts Receivable 1000       Allowance for uncollectible accounts 1000 22-Jul Cash 1000        Accounts Receivable 1000 d 4-Mar Bad debts expense 1000        Accounts Receivable 1000

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