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On January 1 2014 Valdez Company had Accounts Receivable $91000 and Allowance for Doubtful Accounts

On January 1, 2014, Valdez Company had Accounts Receivable $91,000 and Allowance for Doubtful Accounts $8,100. Valdez Company prepares financial statements annually. During the year, the following selected transactions occurred. Jan. 5 Sold $8,400 of merchandise to Patrick Company, terms n/30. Feb. 2 Accepted a $8,400, 4-month, 10% promissory note from Patrick Company for the balance due. 12 Sold $13,500 of merchandise to Marguerite Company and accepted Marguerite s $13,500, 2-month, 10% note for the balance due. 26 Sold $7,000 of merchandise to Felton Co., terms n/10. Apr. 5 Accepted a $7,000

Apr 22 2020 View more View Less

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