At year-end (December 31), Alvare Company values its bad claims as 0.40% of its annual trustworthiness sales of $686,000. Alvare 1.
Following are clarified transactions Deshawn Company for 2010 and 2011.
Accepted a $28,000, 45-day, 7% silence dated December 13 in granting Latisha Clark a term production on her past-due totality receivable.
Prepared an adjusting register to chronicles the accrued profit on the Clark silence.
Received Clark’s liquidation for main and profit on the silence dated December 13.
Accepted a $22,000, 10%, 90-day silence dated March 3 in granting a term production on the pastdue totality receivable of Shandi Company.
Accepted a $20,000, 30-day, 8% silence dated March 17 in granting Juan Torres a term production on his past-due totality receivable.
Torres dishonors his silence when presented for liquidation.
Wrote off the Torres totality opposite the Allowance for Doubtful Accounts.
Received the Shandi liquidation for main and profit on the silence dated March 3.
Prepare narrative entries for the over transactions for 2011. (Use 360 days a year. Do not circular intervening calculations and circular your developed solutions to rectilinear dollar total. Omit the "$" markalal in your counterpart.)
history its Bad Debts Expense for that value. On the aftercited February 1, Alvare decides that the $343 totality of P. Coble is uncollectible and writes it off as a bad claim. On June 5, Coble unexpectedly pays the total previously written off.
Prepare the narrative entries of Alvare to chronicles these transactions and events of December 31, February 1, and June 5. (Omit the "$" markalal in your counterpart.)
Purchase the solution to scene it
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