Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Chan company estimates its bad debts

23/11/2021 Client: muhammad11 Deadline: 2 Day

Accounting For Receivables Chapter 9 Homework

Exercise 9-2 Accounting for credit card sales LO C1

Levine Company uses the perpetual inventory system and allows customers to use two credit cards in charging purchases. With the Suntrust Bank Card, Levine receives an immediate credit to its account when it deposits sales receipts. Suntrust assesses a 4% service charge for credit card sales. The second credit card that Levine accepts is the Continental Card. Levine sends its accumulated receipts to Continental on a weekly basis and is paid by Continental about a week later. Continental assesses a 2.5% charge on sales for using its card.


Apr. 8
Sold merchandise for $8,400 (that had cost $6,000) and accepted the customer's Suntrust Bank Card. The Suntrust receipts are immediately deposited in Levine's bank account.

12
Sold merchandise for $5,600 (that had cost $3,500) and accepted the customer's Continental Card. Transferred $5,600 of credit card receipts to Continental, requesting payment.

20
Received Continental's check for the April 12 billing, less the service charge.

Prepare journal entries to record the above selected credit card transactions of Levine Company.

Exercise 9-3 Direct write-off method LO P1

Dexter Company applies the direct write-off method in accounting for uncollectible accounts.

March 11
Dexter determines that it cannot collect $45,000 of its accounts receivable from its customer Lester Company.

29
Lester Company unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt.


Prepare journal entries to record the above selected transactions of Dexter.

Exercise 9-4 Percent of sales method; write-off LO P2

At year-end (December 31), Chan Company estimates its bad debts as 0.5% of its annual credit sales of $975,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $580 account of P. Park is uncollectible and writes it off as a bad debt. On June 5, Park unexpectedly pays the amount previously written off.


Prepare the journal entries of Chan to record these transactions and events of December 31, February 1, and June 5.

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Fatimah Syeda
A Grade Exams
Writing Factory
Pro Writer
Top Academic Guru
Phd Writer
Writer Writer Name Offer Chat
Fatimah Syeda

ONLINE

Fatimah Syeda

As an experienced writer, I have extensive experience in business writing, report writing, business profile writing, writing business reports and business plans for my clients.

$32 Chat With Writer
A Grade Exams

ONLINE

A Grade Exams

I am a professional and experienced writer and I have written research reports, proposals, essays, thesis and dissertations on a variety of topics.

$21 Chat With Writer
Writing Factory

ONLINE

Writing Factory

I am an elite class writer with more than 6 years of experience as an academic writer. I will provide you the 100 percent original and plagiarism-free content.

$48 Chat With Writer
Pro Writer

ONLINE

Pro Writer

I have worked on wide variety of research papers including; Analytical research paper, Argumentative research paper, Interpretative research, experimental research etc.

$23 Chat With Writer
Top Academic Guru

ONLINE

Top Academic Guru

I reckon that I can perfectly carry this project for you! I am a research writer and have been writing academic papers, business reports, plans, literature review, reports and others for the past 1 decade.

$18 Chat With Writer
Phd Writer

ONLINE

Phd Writer

I have read your project details and I can provide you QUALITY WORK within your given timeline and budget.

$15 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Chip on board manufacturers - Ad hominem commercial - Discussion-10 - The seven elements of the speech communication process - Some truths are not self evident - Psy 410 week 2 worksheet - Los cajeros cuentan los palillos para saber cuánto deben pagar los clientes. cierto falso - Why was the contoso\administrator not able to open the file? - How to create an ecomap - Advantages and disadvantages of flat plate collector - 613_IP5 - The assembly consists of two red brass - Question to be answered - Sponges are filter feeders - Reaserch paper - Healthy Care Community Security and Privacy Plan - How to prepare political science for css - Martin brundle mercedes 190e cosworth - Http www satac edu au tafe sa - Anz merchant eftpos rolls order - Assignment 11 - Uts insearch pathway scholarship - Joe henry's machine shop uses brackets - Thought Paper - Was dumb starbucks legal - 1/21 boyd st greensborough - L oreal expansion in china - With regard to earthquakes what distinguishes intensity from magnitude - Dc filter capacitor calculation - Abraham lincoln's letter to his son's teacher questions answers pdf - Cry freedom summary chapter 5 - Wk 4, IOP 480: DQ - Project change management template - Resonance meaning in marketing - The compassionate samurai - Clark healthy workplace inventory - Our country lesson plans kindergarten - The red cap poem - Listen to the statements and indicate if they are cierto or falso based on the photo. - Cause and Effect Argument Essay Assignment - Stop and shop scan it - Character element of drama - Osha electrical safety toolbox talk - Annualized investment rate - Michael lo sordo stockists sydney - Bright guardian akira face reveal - Emily dickinson essential oils analysis - Hazell and jefferies benson - Presentation - Fear in the dressmaker - Bs 5750 part 2 - EKG Interest Letter - The net hydrostatic pressure is the hydrostatic pressure in the - When preparing a flexible budget the level of activity - Continued Work Part 2 - The four d's of psychology - Brisbane city council zone map - Belt disc sander safety - 300 115 drag and drop - TLMT318 Week 2 Quiz 1 SCORE 100 PERCENT - Pcssc top up card - 2 Questions - Geneva county reaper newspaper online - Oprah winfrey's interview with elie wiesel at auschwitz worksheet answers - 45000 salary is how much biweekly - The rocky mountain district sales manager of rath publishing inc - CLOUD COM WEEK 4 DQ - John winthrop a model of christian charity pdf - What kinds of colors were favored by rococo painters - Beaufort wind scale knots - Joint complex kat a lyst - 2 pages theory paper - Outline & Annotated Bibliography for a paper - Anthropology Discussion post - Macbeth act 4 activities - Article - Sunflower nutraceuticals simulation answers - Texting is bad for communication skills - Econmovies episode 6 worksheet answers - Aspen plastics produces plastic bottles - Theme park swot analysis - Ron white shoe buddy meaning - Think tac toe social studies - What is a dramatic question in a play - Mccormick professor of jurisprudence - Adf airborne electronics analyst - Password checker online domain tools - Leadership powerpoints - HW1 - Improving your writing penn foster exam - Andalusian city crossword clue dan word - Hayes enterprises began 2015 with a retained - Herzing college blackboard - Emerging Threats and discussion - Complex ions and solubility - Periodic table group labels - Op - Hcf silver extras plus - What is sociocentric thinking - Data communications and computer networks curt m white pdf