Sharon Silver is an attorney in Los Angeles. Silver uses the direct write-off me

Question

Sharon Silver is an attorney in Los Angeles. Silver uses the direct write-off method to account for uncollectible receivables. At April 30, 2018, Silver's accounts receivables totaled $20,000. During May, she earned revenue of $21,000 and collected $19,000 on account. She also wrote off uncollectible receivables of $1,470 on May 31, 2018.

Read the requirements.

1.) Use the direct write-off method to journalize Silver's write-off of the uncollectible receivables.

2.) What is Silver's balance of Accounts Receivable at May 31, 2018?

Sharon Silver is an attorney in Los Angeles, Silver uses the direct write-off method to account for uncollectible receivables. At April 30, 2018, Silves acco receivable totaled $20,000. During May, she earned revenue of $21,000 on account and collected $19,000 on account. She also wrote off uncollectible receivables of $1,470 on May 31, 2018 Read the requirements. Requirement 1. Use the direct write-off method to journalize Silver's 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 Choose from any list or enter any number in the input fields and then click Check Answer Clear All Check Answer remaining

Explanation / Answer

Date Accounts and Explanations Debit Credit 2018 31-May Bad debts expense 1,470 Account receivable 1,470 2) T-Account Account receivable beg bal 20,000 cash 19,000 revenue 21,000 written off 1,470 Bal 20,530 Balcne in account receivable account = 20,530

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