Question 8 (6 points). It is assumed that 1.25 % of net credit sales will become

Question

Question 8 (6 points). It is assumed that 1.25 % of net credit sales will become uncollectible Debit Credit Question 9 (4 points) Prepare journal entry to write offS 7600 of bad debt on May 1 2017 for Mr. Lennox Richmond Debit Credit Question 10 (6 points) Prepare journal entry on June1 5th, 2017 to collect the bad debt expense previously written off on May 1, 2017 Debit Credit Debit Credit Question 11 (8 points) On July 10, 2017, Raul Car Rentals sold a car for $15,000 for cash. The cost pr 34,000 and accumulated depreciation at time of sale was S 10,000. What is the journal entry to record sale of car:

Explanation / Answer

q8) Bad debts expense Debit Allowance for uncollectible accounts Credit (net sales *1.5%) Q9) Allowance for uncollectible accounts Debit 7,600 Accounts receivabe Credit 7,600 q10) Accounts receivabe Debit 7,600 Allowance for uncollectible accounts Credit 7,600 cash Debit 7,600 Accounts receivable Credit 7,600 Q11) cash Debit 15,000 Accumulated depreciation Debit 10,000 loss on sale of car Debit 9,000 Car credit 34,000

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---

---

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