Answered You can hire a professional tutor to get the answer.

QUESTION

Part A Prepare general journal entries to record the following transactions for the Harris Company. (The company uses the balance sheet approach for...

Part A

Prepare general journal entries to record the following transactions for the Harris Company. (The company uses the balance sheet approach for recording bad debts expense.)

2010

Dec. 31 Recorded Bad Debts Expense, $800

2011

Jan. 3 Wrote off Jal's account as uncollectible, $60

Mar. 4 Wrote off Hall's account as uncollectible, $75

Jul. 5 Recovered $45 from Hall

Aug. 19 Wrote off M. Wilson's account as uncollectible, $100

Nov. 7 Recovered $25 from Jal

Part B

For each of the following, identify in Column 1 the category to which the account belongs, in Column 2 the normal balance for the account, in Column 3 the financial statement that the account in which the account balance is reported, and in Column 4 the account's nature (temporary/permanent).

1) Interest payable

2) Interest receivable

3) Discount on notes payable

4) Store equipment

Part C

A computer server system, which had cost $210,000 and had accumulated depreciation of $147,000, was traded for a new system with a fair market value of $235,000. The old system and cash of $180,000 were given for the new system. Prepare the journal entry for the exchange of these similar assets.

Prepare journal entries for the following for Bartz, Inc.

May11 - Replaced the engine in a Van #1, paying cash of $5,400

May18 - Paid cash for a tune-up of the engine in Van #2 of $570

may29- Paid cash to add a lift to Van #2 of $3,700

Show more
LEARN MORE EFFECTIVELY AND GET BETTER GRADES!
Ask a Question