Submitted At: Not Submitted ed ogress Time Spent: 00:00:20 Time Limit: Unlimited

Question

Submitted At: Not Submitted ed ogress Time Spent: 00:00:20 Time Limit: Unlimited Started At: Apr 9,2018 9:20 AM Last Worked: Apr 9,2018 9:20 AM Submitted By: Not Submitted Preview In Window Large Preview Selected Item Attempt Preview May 1. Sold merchandise on account to Beijing Palace Co., $18,900. The cost of the merchandise sold was $13,600 Aug. 30. Received $4,900 from Beijing Palace Co. and wrote off the remainder owed on the sale of May 1 as uncollectible. Dec. 8. Reinatated the account of Beijing Palace Co. that had been written off on August 30 and recelived $14,000 cash in full payment. For a compound transaction, if an amount box does not require an entry, leave it blank. May 1-sale May 1- cost Aug. 30 Dec. 8-reinstabed Dec. 8-collection ??e Lifc Plan

Explanation / Answer

May1. Beijing Palace co. A/c Dr. 18,900

To Merchandise 13,600

To profit on sale 5,300

Aug 30. Bank A/c Dr. 4,900

Bad debts A/c Dr. 14,000

To Beijing Palace co. 18900

Dec8. Cash A/c Dr. 14,000

To Bad debts 14000

Related Questions

Navigate

• Browse (All)
• Browse S
• Subjects

---