question archive 1) Suppose Precinct District wrote off a specific uncollectible account for $33,000 on October 2, 2012
1) Suppose Precinct District wrote off a specific uncollectible account for $33,000 on October 2, 2012
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1) Suppose Precinct District wrote off a specific uncollectible account for $33,000 on October 2, 2012. Assume this was the only transaction affecting the accounts receivable or allowance accounts on that day. Give the journal entry to record this write-off. What would the balance sheet show for accounts receivable at the end of the day on October 2? (Record debits first, then credits Explanations are not required.) Date Accounts Debit Credit Oct 2 Allowance for uncollectible accounts 33,000 Accounts receivable 33,000 What would the balance sheet show for accounts receivable at the end of the day on October 2? The net balance sheet total would be $ 45,537,000 Requirement 2. Suppose Precinct District used the specific write-off method instead of the allowance method for recognizing uncollectible accounts. Give the journal entry to record this write-off. Compute the accounts receivable balance that would be shown on the October 2, 2012, balance sheet. (Record debits first, then credits. Explanations are not required.) Date Accounts Debit Credit Oct 2 Bad debt expense 33,000 Accounts receivable 33.000 Compute the accounts receivable balance that would be shown on the October 2, 2012. balance sheet. The accounts receivable balance that would be shown on the October 1, 2012, balance sheet would be $
