Steven Sauer is an attorney in Los Angeles. Sauer uses the direct write-off meth

Question

Steven Sauer is an attorney in Los Angeles. Sauer uses the direct write-off method to account for uncollectible receivables. At April 30, 2018, Sauers accounts receivable totaled $19,000 During May, he earned revenue of $20,000 on account and collected $25,000 on account He also wrote off uncollectible receivables of $1,000 on May 31, 2018 Read the requirements Requirement 1. Use the direct write-off method to journalize Sauers write-off of the uncollectible receivables. (Record debits first, then credits Select the explanation on the last line of the journal entry table ) Date Accounts and Explanation Debit Credit May 31 equirement 2. What is Sauer's balance of Accounts Receivable at May 31. 2018 oose from any list or enter any number in the input fieids and then continue to the next question Save for Later

Explanation / Answer

Date Accounts and Explanations Debit Credit 31-May Bad debts expense 1,000 Account receivable 1,000 2) Accounts receivable opening balance 19,000 Cash 25,000 sales on account may 20,000 bad debts 1,000 End bal 13,000 Balance of accounts receivable on May 31,2018 13,000

Related Questions

Navigate

• Browse (All)
• Browse S
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.