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B D E F G H M M N Prepare the following journal entries 2 (a) Assume that Coral Company on February 1, 2018, sells merchandise on account to Membres Company for $5,500, torms 3/15, n/60, FOB Destination 3 4 5 On February 10, Membres Company returns merchandise worth $1,700 to Coral Company 6 7 On February 15, 2017. Coral Company receives payment from Membres Company for the balance due Value 14 pts B 9 10 (a) Journalize the transactions 11 12 Valo 13 01-Feb Account Account 14 Value 15 16 17 10 Value Account Account 18 Value 19 20 15 21 22 23 Account Account Account Value Value Value 24 25 Pronare the following journal ontries 26 (b) On March 1, assume that Flora's Company made a credit sale for $3,000 on account to Maryland Company 27 On March 15, Floral Company received the amount of $1,500 of the credit salos 28 29 30 31 32 On March 30, Maryland Company have liquidity problems and Florn's Company estimate that $1,500 to be uncollochble On April 5, Flora's Company made a write-off of uncollocbblo account for $1,500 D E F G H K M 25 Prepare the following oumal entries 25 (6) On March 1, assure that Flora's Company made a credit sale for $3,000 on account to Maryland Company On March 15, Floral Company received the amount of $1,500 of the credit sales 27 28 20 3D On March 30, Maryland Company have liquidity problems and Flora's Company estimate that $1,500 to be uncollectible 31 On April 5, Flora's Company made a write-off of uncollectible account for $1,500 32 33 24 On April 30, recovery of an uncollectible account in the allowance method, Maryland Company pays the $1,500 that was written off prepare the journal entry or entries 35 36 37 38 Value 24 pts 39 (b) Journalize the transactions 40 41 42 01-Mar Account Account Value 43 Value 44 45 15 Value Account Account 46 Value 47 48 30 Account Value Account Value 50 51 05 Apr Account 52 Value Account Value 53 54 30 Value Account Account 55 Vakuje 56 57 Value Account Account 50 Value 60 Prepare the following oumal entnes 61 2. (c) Percentage of sales to estimate the uncollectible amount 63 Assume that Company A elects to use the percentage of sales basis. It conclude that 4% of the credit sales will be Chapter 9 A13 /02/2018 A B E F G H 49 Account Value 50 Value 30 Value 57 Value 51 05-Apr Account Value 52 Account 53 34 Account Value 55 Account 56 Account 58 Account Value 59 Prepare the following journal entries 51 52 (c) Percentage of sales to estimate the uncollectible amount Assume that Company A elects to use the percentage of sales basis. It conclude that 4% of the credit sales will be uncollectible. If the credit sales for 2017 are $1,350,000, prepare the appropriate journal entry. Value 4 pts 57 8 (c) Journalize the transactions 53 55 56 39 20 Value Account Account 71 Value 74 7. Prepare the following journal entries Assume that you are using the aging of account receivable to estimate the amount of bad debt, prepare the adjusting entry using the following information Cape custom Paste Format Painter BIU HE A === Merge a Center 2 Clipboard CO For Font Algiment Nunber 079 X 50000 D E F 68 (c) Journalize the transactions G H M 69 70 Account Account Value 71 72 Valuje 77 za Prepare the following oumal entres 74 75 (d) Assume that you are using the aging of account receivable to estimate the amount of bad debt, prepare the adjusting entry 76 using the following information number of days Account percentage outstanding Receivable of uncollectible 78 0-30 $ 80,000.00 2% 79 31-60 $ 50,000.00 DO 61 - 90 $ 45,000.00 81 91 - 120 $ 25,000.00 8% 82 over 120 $ 18,000.00 11% 83 0) the account of Allowance of Doubtful Account have a credit balance of $5,000.00 3% 4% 84 85 B) If the account of Allowance of Doubtful Account have a dedt balance of $1,500.00 06 B7 Value 8 pts 89 90 (d) Journalize the transactions 91 R20 Account Value 93 Account Value 94 95 ) Account Value Account Vale 97 se 99 Prepare the following ournal entries 100 101 (e) Assume that company factors $800,000 of receivable to D Factors. Factors assesses a service charge of 4.5% of the amount of receivable sold The journal entry to record the sale should be? $6 100 Valente Chapter 9 Red Chapter 9 Jean Torres - Excel File Home Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do x Out Liberation Sans 12 2 Copy Wrap Text Custom Paste 1 N Format Painter BU A Merge & Center % Conditio Formatting Chipboard Font Algement Number 079 50000 B 0 G H 95 M N 0 99 Prepare the following umalentes 100 11(e) Assume that c Company factors $800,000 of receivable to D Factors D Factors assesses a service charge of 45% of the amount of receivable sold The journal entry to record the sale should be? 103 1044 Value 6 pts 105 105(e) Journalize the transactions 07 100 Account Value 100 Account Value 110 Account Value 111 114 113 Prepare the following ouma entries 115 Assume that you purchases $5,000 TV for your house from Sears using your American Express American Express 116 charges a service fee of 5% Make the journal entry that Sears should made to record this transaction 117 Value 6 pts 119 120) Journalize the transactions 111 121 122 Account Account Account Value Value 124 Vale 120 Prepare the rodougournalen Mona wrote a $7,500, four month 15% promissory note dated May 1 to settle a open account. Prepare the entry that Mona would makes for the receipt of the note 120 (9) 119 33 111 122 130 154 On September 1, prepare the journal entry Mona receives the payment of the note, at payment date (Honor of a nole receivable) If on September 1, Mona does not receives the payment of the note, at payment date (Dishonor of a note receivable) Copy Paste BIUM Merde & Center 4 1 Conde Format Painter Format Coboard Font Alignment 12 Number D79 50000 A B E F H 1 M N 0 119 120 () oumalize the transactions 0731 322 12 Value Account Value Account Value 124 Account 125 126 Prepare the following oumal entries 127 128 ) Morsa wrote a $7,500 four month, 15% promissorty note dated May 1, to settle a open account. Prepare the entry that Mona 129 would makes for the receipt of the note EC 131 On September 1, prepare the journal entry if Mona receives the payment of the note, at payment dife (Honor of a note receivable) 133 W on September 1 Mona does not receives the payment of the note, at payment date (Dishonor of a note receivable) 14 235 Value 16 pts 136 NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?". 132 133 ES Value Value Value Value Value 144 Value 139 01-May Account 140 Account 141 1e 01-Sep Account Account Account 145 146 01-Sep Account 147 Account Account 149 150 151 132 153 154 Value Value 148 155 156 Chapter 9 Ready

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