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6 Cards in this Set
- Front
- Back
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FAR 4
Record Sael of $100,000. Company estimate that 2% of A/R will be uncollectible |
Debit AR 100,000 CRedit Credit Sales 100,000 Debit Bad Debt Expense 2,000 Credit Allowance for doubtful accounts 2000 |
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FAR 4 Prepare the Balance Sheet |
A / r 100,000 Less:allowance (2,000) Net Rec. 98,000 |
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FAR 3 Write off $500 |
Debit Allowance for doubtful accounts 500 Credit A/R 500 |
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FAR 4 Prepare the B.S |
A/R 99,500 Less: allowance (1,500) Net Rec. 98,000 |
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FAR 4 Recover the written off receivable of 500 |
Debt a/r 500 Credit Allowance for Doubtful accounts 500 Debit CASH 500 Credit A/r 500 |
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FAR 4 Prepared the B.s |
Cash 500 A/r 99500 |
