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

Chapter 9 accounting for receivables

23/10/2021 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:

Instant Homework Helper
High Quality Assignments
Accounting & Finance Mentor
24/7 Assignment Help
Helping Engineer
Calculation Master
Writer Writer Name Offer Chat
Instant Homework Helper

ONLINE

Instant Homework Helper

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.

$18 Chat With Writer
High Quality Assignments

ONLINE

High Quality Assignments

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.

$39 Chat With Writer
Accounting & Finance Mentor

ONLINE

Accounting & Finance Mentor

This project is my strength and I can fulfill your requirements properly within your given deadline. I always give plagiarism-free work to my clients at very competitive prices.

$27 Chat With Writer
24/7 Assignment Help

ONLINE

24/7 Assignment Help

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

$16 Chat With Writer
Helping Engineer

ONLINE

Helping Engineer

After reading your project details, I feel myself as the best option for you to fulfill this project with 100 percent perfection.

$20 Chat With Writer
Calculation Master

ONLINE

Calculation Master

This project is my strength and I can fulfill your requirements properly within your given deadline. I always give plagiarism-free work to my clients at very competitive prices.

$22 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

Fin 534 homework set 1 - Briefing Cade for Legal - American history by alan brinkley pdf - Mathcad - Cirque du soleil case study analysis - Nursing diagnosis for pancreatitis - Smith v hughes 1871 - How did tokugawa ieyasu unify japan - 250words use 2 sources - 3874 #5 9-10 - Wall street journal exchange rates - What is the purpose of mpls - Assignment needed by 5pm Sat - They say i say 4th edition chapter 7 summary - Research Paper - Reflect in a sentence - Self sustaining community of organisms crossword clue - Ereserves penn state - Individual programmatic assessment week five programmatic assessment - Ucl clinical psychology masters - Conclusion for the using and not using Organizational behavior concepts in an company success - What does hwarang mean in korean - Aaron beck automatic thoughts - Doosan portable power manuals - Apollo shoes audit case solution - Sodium hydroxide + hydrochloric acid word equation - Class 1b building requirements qld - Genesis 19 24 26 - W4PsychotherapyAsgnment - According to the gate control theory of pain - Cereal quiz age and eye color - Conference evaluation form doc - Utas bachelor of nursing fast track - Difference between direct and indirect exchange rate - Walt and wilf examples - Could 131 g of xenon gas in a vessel - Reflection Papers: - Rise of Industry - Variable speed drive wiki - Make your own tui billboard template - The inner game of trading pdf - Scholarly Journal Database Search - In metals the valence electrons are considered to be - At&t strengths and weaknesses 2017 - Jason silvers goldman sachs - Army sharp powerpoint - Iu east campus map - Opportunity loss formula - Emancipation proclamation dbq answers - Bt graduate software engineer - Estudent macquarie university log in - CPA #2 - Villa of the mysteries floor plan - Statistics for Business - Linuxzoo - TEAM MANAGEMENT Assignment 2 - COVID-19 Open Research Dataset Challenge (CORD-19)- Research paper - Mkt 571 week 1 individual assignment - Effective leadership achua lussier 5th edition pdf - Glencoe natural selection virtual lab - Sketch and label a phospholipid - Air canada organizational structure - Does hardiflex sheeting contain asbestos - What is strategic compensation - New york times private lives submission - Energy Balance - University of delaware interview - Tree top walk illawarra - Theme of do the right thing essay - Myers briggs field marshal - Five finger retell nonfiction - Union Campaigning / Contracts - Frankston community vaccination hub - bayside centre - Strategy, Planning, and Selection - Grignard reaction triphenylmethanol lab report - Title: 'Assignment 02: Process State Simulation' author: 'CSci 430: Introduction to Operating Systems' date: 'Fall 2020' - New forest pony stud - Neisser 1967 cognitive psychology - How to unlock the gate in gilead - Doritos corn chips bold test flavour - Confined space powerpoint presentation - Good examples of advertising directed toward elderly consumers - Section 20 1 the kingdom protista answer key - Literary terms a practical glossary - Ca skill assessment application form - Short stories with the theme of self discovery - Stoker v machine surfboard - Tracker software pdf xchange pro - Busn603 - How do impurities affect boiling point - Mawson lakes campus central - Bucket map join in hive - Mla possessive names ending in s - Production method and steps for danish pastry - Similarities between print and broadcast media - Standards and Accountability - Zao shang hao response - Create a flyer in word assignment - Hursthouse and Pettigrove - Virtue Ethics - Wolf hollow study guide