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german
3 years ago
12

Journalize the following transactions using the direct write-off method of accounting for uncollectible receivables.

Computers and Technology
1 answer:
Yanka [14]3 years ago
4 0

The journal entry for the transactions will be:

<u>1st April</u>

Debit Account receivables $7200

Credit Sales $7200

(To record sales)

Debit Cost of goods sold $5400

Credit Inventory $5400

(To record cost of goods sold)

<u>10th June</u>

Debit Cash $2400

Credit Account receivable $2400

(To record cash received from customer)

Debit Allowance for uncollectible items $4800

Credit Account receivable $4800

(To record write-off)

<u>11th October</u>

Debit Account receivable $4800

Credit Allowance for uncollectible items $4800

( To record reinstatement of account)

Debit Cash $4800

Credit Account receivable $4800

( To record full cash gotten from customer)

The account receivable on 10th June was calculated as:

= (1/3 × $7200) = $2400

Learn more about journal entry on:

brainly.com/question/8913038

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ossless compression tools generally use either Huffman coding or Lempel-Ziv-Welch (LZW) coding. Discuss the advantages and disad
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It we were asked to develop a new data compression tool, it is recommended to use Huffman coding since it is easy to implement and it is widely used.

Explanation:

The pros and the cons of Huffman coding

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Answer:

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