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

Sold services on account t chart

02/10/2021 Client: muhammad11 Deadline: 2 Day

Innovative Tech Inc. (ITI) has been using the percentage of credit sales method to estimate bad debts. During November, ITI sold services on account for $100,000 and estimated that 3/4 of 1 percent of those sales would be uncollectible Required: 1. Prepare the November adjusting entry for bad debts. 2. Starting in December, ITI switched to using the aging method. At its December 31 year-end. total Accounts Receivable is $93,200. aged as follows: (1) 1-30 days old, $77000: (2) 31-90 days old. $12.000; and (3) more than 90 days old, $4,200. The average rate of uncollectibility for each age group is estimated to be (1) 12 percent, (2) 24 percent, and (3) 48 percent, respectively. Prepare a schedule to estimate an appropriate year-end balance for the Allowance for Doubtful Accounts. 3. Before the end-of-year adjusting entry is made, the Allowance for Doubtful Accounts has a $1.700 credit balance at December 31. Prepare the December 31 adjusting entry. 4. Show how the various accounts related to accounts receivable should be shown on the December 31 balance sheet. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare the November adjusting entry for bad debts. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list
Prepare the November adjusting entry for bad debts. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 Record the adjusting entry for bad debts as of November 30 Note: Enter debits before credits. Date General Journal Debit Credit November 30 Record entry Clear entry View general journal
Starting in December, ITI switched to using the aging method. At its December 31 year-end, total Accounts Receivable is $93,200, aged as follows: (1) 1-30 days old, $77,000: (2) 31-90 days old, $12,000; and (3) more than 90 days old, $4,200. The average rate of uncollectibility for each age group is estimated to be (1) 12 percent, (2) 24 percent, and (3) 48 percent, respectively. Prepare a schedule to estimate an appropriate year-end balance for the Allowance for Doubtful Accounts. Show less Total 1-30 31-90 >90 Accounts Receivable Estimated Uncollectible (6) Estimated Uncollectible (S)
Before the end-of-year adjusting entry is made, the Allowance for Doubtful Accounts has a $1,700 credit balance at December 31 Prepare the December 31 adjusting entry. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 Record the adjusting entry for bad debts as of December 31 Note: Enter debits before credits Date General Journal Debit Credit December 31
Required 1 Required 2 Required 3 Required 4 Show how the various accounts related to accounts receivable should be shown on the December 31 balance sheet. Innovative Tech Inc. (ITI) Balance Sheet (partial) At December 31

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:

Quick N Quality
Finance Professor
Top Writing Guru
Finance Master
Smart Homework Helper
Assignments Hut
Writer Writer Name Offer Chat
Quick N Quality

ONLINE

Quick N Quality

Give me a chance, i will do this with my best efforts

$25 Chat With Writer
Finance Professor

ONLINE

Finance Professor

I am known as Unrivaled Quality, Written to Standard, providing Plagiarism-free woork, and Always on Time

$34 Chat With Writer
Top Writing Guru

ONLINE

Top Writing Guru

I have read your project details. I can do this within your deadline.

$24 Chat With Writer
Finance Master

ONLINE

Finance Master

Give me a chance, i will do this with my best efforts

$32 Chat With Writer
Smart Homework Helper

ONLINE

Smart Homework Helper

You can award me any time as I am ready to start your project curiously. Waiting for your positive response. Thank you!

$34 Chat With Writer
Assignments Hut

ONLINE

Assignments Hut

I am known as Unrivaled Quality, Written to Standard, providing Plagiarism-free woork, and Always on Time

$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

Psychology question - Marshall pediatrics nowcare huntington wv - Godfrey ermen ce primary school - The volcano mission cornelia funke - Cvt transformer circuit diagram - Bathe in reeking wounds - My bupa claim form - Vce study score bell curve - The keeper of lost causes book club questions - Variable expense ratio - Composite functions word problems with answers - Sarah bond aaron pedersen - Hotels near turnip rock - How many pizzas for 11 people - Importance of perception in organizational behaviour ppt - Southwark streetscape design manual - Gas stoichiometry worksheet answers - Is saltwater a conductor or insulator - HRM530 Week6 Assignment 3 Dismissal Meeting - First city bank pays percent simple interest - L houts plastics is a large manufacturer - What is data roaming in australia - Mpa to n mm2 - Csi web adventures rookie training - Guyan machinery a west virginia manufacturing corporation - Thirteen plays of bhasa pdf - A piston cylinder device with a set of stops - San jose to santa cruz bus 17 - Matilda scenes in order - Crystal ladder filter design software - How long is 16 feet in a room - Gp receptionist jobs leyland - How to write a sonnet for dummies - Kentucky blue skin family - Disinfectant tablets for baby bottles - Big Data - Sunderland uni exam timetable - The solar opposites lesson analyzer - Mitigating Risks - Designing pay levels mix and pay structures - Describe the compensation philosophy of maersk - Case study on biomedical ethics in the christian narrative - Don't panic hans rosling worksheet - Still killing us softly advertising and the obsession with thinness - Argumentative research paper on Topic: Gender Issues (LGBTQ) - Tris free base vs tris base - Need help with essay - Peng m and k meyer international business pdf - Week 6 research article critique paper - Information systems audit and control association - Https eprescribe allscripts com activate default aspx - Dexter yager net worth forbes - Undistributed corporate profits are called - How do you know which counterargument to address - How mr rabbit was too sharp for mr fox - Gre practice test with answers - Where is lowe's distribution center - Dau tst 102 homework answers - Antisocial narcissistic personality disorder wiki - Annotated bibliography on childhood obesity - Is mass marketing dead debate - English writing - Phi 445 week 1 quiz - Architecturally exposed structural steel specifications connections details - Project Management : Opening a restaurant - Uber technologies inc case study - Occ quarterly report on bank derivatives - A useful tool in gathering information about the competitive environment - Ritz cinema port macquarie - Strayer writing standards sws format - Horstmann c27 wiring diagram - The crusades seen through arab eyes - Powerpoint elbow connector orientation - The spirit of zen sam van schaik - Physical assessment general survey example - Prince sports inc case study - Dogs are better than cats essay - ¿qué tiene julián en común con otras personas de su misma profesión? - University of leicester campus map - Dr nicole goddard oncologist canberra - The Great Recession of 2008-2009: Causes and Responses - Mcq on financial attest audit manual - Homework - Face value vs book value - The laugh of the medusa - Please help with paper - The planning shop electronic financial worksheet - Example of a speech outline in apa format - Belt conveyors for bulk materials - Journal assignment - Acer griseum growth rate - Bluetooth transmitter for tv jaycar - Harvey city comprehensive case solutions - Safety symbols worksheet pdf - Write a 500 word essay - Ethics business relationships and leadership Reflection Paper - Poetry assignment due in 30 hours - Hume xn5 front door - Cityof goldcoast com au payments - Tax practice questions