At the end of 2017 Siscal yer, LaZ Ca. has the following Cument Assets 516194 s)

Question

At the end of 2017 Siscal yer, LaZ Ca. has the following Cument Assets 516194 s) During 2018, the company wrote off $200 of specific accounts Prepare the journal entry to record the write-off that were deemed of these accounts receivable. (4 pto) ecelvables balance wil Receivable has a gross ending balance o b) At the end of 2018 (12/31/2018). management estimate ikely be difficult to collect. The company's Accounts $17,600 Prepare the journal entry to r receivables method (the balance sheet approach). (8 pts) c) If credit sales for 2018 were $118,000, compute the amount of cash collected from custor in 2018 (note: take into account the event in part a). (6 pts)

Explanation / Answer

c. cash collected from customers

S.no. DATE DESCRIPTION DEBIT $ CREDIT $ a. 2018 Allowance for doubtful accounts 200 Accounts receivable 200 b. 31/12/2018 Bad debt expense 1280 Allowance for doubtful accounts 1280

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