Ask Question
16 April, 01:51

Journalize and post to the allowance account the following events and transactions in the year 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (1) On March 31, a $1,000 customer balance originating in 2020 is judged uncollectible. (2) On May 31, a check for $1,000 is received from the customer whose account was written off as uncollectible on March 31.

+2
Answers (1)
  1. 16 April, 02:11
    0
    The jounral entries are as follows

    Explanation:

    1) March 31.

    Bad Debts Expense Dr.$1,000

    Account Receivable Cr.$1,000

    2) May 31.

    Account Receivable Dr.$1,000

    Bad Debt Expense Cr.$1,000

    Bank Dr.$1,000

    Account Receivable Cr.$1,000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Journalize and post to the allowance account the following events and transactions in the year 2021. (Credit account titles are ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers