Question 1: 28.50 - 3x = 12
Question 2: $5.50
Answer:
The transaction will be recorded by the company as :
DR : Non-collectibles $5670
CR : Accounts receivable $5670
Step-by-step explanation:
Amount of money estimated = $5670
The amount which is non-collectible is recorded as a DEBIT transaction by the company because the amount in the non-collectible account can't be received by the company.
But, the amount in the receivables is the amount which is available for receiving and can be received by the company. So, receivable transaction is marked as CREDIT by the company.
Thus, the transaction will be recorded by the company as :
DR : Non-collectibles $5670
CR : Accounts receivable $5670
