60.1K

Verified Solution

Link Copied!

the first part I made a mistake .

Greilu zahir mesa e NEED To be check Entries for Bed Debt Expense under the Direct Wene-off and Allowance Methode Catebot Company wrote of the following accounts receivable as colectible for the first year of its operations ending December 31 Customer Amount Shawn Brooke $17,100 Eve Denton 15,900 Art Mailloy 21,800 Cassie Yost 4,100 Total $58.900 blank BE 58,900 A Journalize the write-offs under the direct write-off method. I mount box does not require an entry, leave it Debit cridit Dec 31 Os merino 17,100 OCC M Denton 15,900 ace nec molley anc sec yout 21. 800 4,100 b. Joumalize the write-offs under the allowance method. Also, ume the adjusting entry for uncollectible accounts. The company recorded 660,000 of credit sales during the year. Based on past history and industry averages, 1 1/49 of credit sales are expected to be uncollectible amount box does not require an entry, leave it blank doublul Desit Oudit DEC write-on albumin 20 58, 900 31 acc nec hookt 15,900 QUE AC Dator 21.800 ax_wei malay 17, 100 4,100 20 sati, sest bon dild amb allowans doutpel 4.060,000 X 0.0075 -304.6 Adjustment acc How much higher (lower) would Casebolt Company's net income have been under the direct write-off method than under the allowance method? by s

Answer & Explanation Solved by verified expert

See Answer