Home / Questions / Prepare a partial balance sheet for the Meredith Company at December 31, 2014, from the fo
Prepare a partial balance sheet for the Meredith Company at December 31, 2014, from the following information:
Cash$10,000
Accounts Receivable6,000
Bad Debts Expense 1,400
Merchandise Inventory1,800
Allowance for Doubtful Accts.200
Use the account code numbers to identify how the following transactions would be journalized.
[1] for cash
[2] for accounts receivable
[3] for allowance for doubtful accounts
[4] for bad debts expense
[5] for bad debts recovered
34) Adjusted for the estimated bad debts using the percentage of receivables.
Debit account ________________ Credit account ________________
35) Collected a partial payment from a bad debt under the allowance method. The account had been reinstated.
Debit account ________________ Credit account ________________
36) Wrote off an account using the allowance method.
Debit account ________________ Credit account ________________
37) Reinstated an account previously written off under the allowance method.
Debit account ________________ Credit account ________________
38) Collected from a customer previously written off under the direct write off method.
Debit account ________________ Credit account ________________
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