20 The account of H. Scott , a deceased customer who owed $325 , was deter - mined to be uncollectible and was therefore written off . Mar . 16...
your answers to questions 8 and 9 the following information. that of Thurmond Company's sales are credit sales. It has been the practice of Thurmond Company to provide for uncollectible accounts expense at the rate of one-half of one percent of net credit sales. For the year 20X1 the company had net credit sales of ,021,000 and the Allowance for Doubtful Accounts account had a credit balance, before adjustments, of as of December 31, 20X1. During 20X2, the following selected transactions occurred:
journal entries the December , X1, the seven X2 transactions the sheets provided the back this unit. answer questions the answer sheet. T-accounts also provided your answering these questions.
The balance the Allowance Doubtful Accounts account after all X2 transactions have been posted but prior to final adjustment
On March , Alexander Company discounted at its bank a $,, one-year, % interest-bearing note due August The discount rate was %. The journal entry that made to record the discounting the note
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Jan .20The account of H. Scott , a deceased customer who owed $325 , was deter -mined to be uncollectible and was therefore written off .Mar .16Informed that A . Nettles , a customer , had been declared bankrupt . Hisaccount for $ 898 was written off .Apr .23The $ 906 account of J . Kenney & Sons was written off as uncollectible .Aug .`3Wrote off as uncollectible the $ 750 account of Clarke Company .Oct .20Wrote off as uncollectible the $ 1 , 130 account of G. Michael Associates .Oct .27Received a check for $325 from the estate of H. Scott . This amount had beenwritten off on January 20 of the current year .Dec .20Cater Company paid $ 7 , 000 of the $ 7 , 500 it owed Thurmond Company .Since Cater Company was going out of business , the $500 balance it stillowed was deemed uncollectible and written off .