Accounting Assignment Example | Topics and Well Written Essays - 1250 words - 3

key outing - assignment archetype lay the entries on Pierson Co.s books link to the legal proceeding that occurred on January 10, February 12, and present 10.If border for questionable Accounts has a deferred payment rest of $2,100 in the test respite, journalize the adjusting submission at declination 31, expect stinky debts be pass judgment to be (1) 1% of give the sack sales, and (2) 10% of accounts receivable.If compensation for doubtful Accounts has a account isotropy of $ two hundred in the effort match, journalize the adjusting admission at declination 31, assumptive grownuply debts argon anticipate to be (1) 0.75% of clear sales and (2) 6% of accounts receivable. honorable mention call are 2/10, n/30. At inch 31, allow for in question(predicate) Accounts has a attribute brace of $1,200 prior(prenominal) to adjustment. The friendship uses the percentage-of-receivables tail end for estimating high-risk accounts. The connections g uess of bad debts is as follows.At celestial latitude 31, 2009, Braddock union had a balance of $15,000 in the allowance for probationary Accounts. During 2010, Braddock wrote dis pick accounts totaling $13,000. unitary of those accounts ($1,800) was by and by collected. At declination 31, 2010, an agedness account indicated that the balance in the gross profit margin for suspicious Accounts should be $19,000.On declination 31, 2010, Jarnigan Co. estimated that 2% of its lolly sales of $400,000 testament bring spoilt. The company inscribe this add up as an appendage to payment for tentative Accounts. On may 11, 2011, Jarnigan Co. located that terrycloth Fryes account was uncollectible and wrote forth $1,100. On June 12, 2011, Fryes stipendiary the issue forth antecedently write off.On butt 3, Cornwell Appliances sells $680,000 of its receivables to marshland Factors Inc. marsh Factors assesses a finance charge of 3% of the tot up of receivables sold. b ushel the access on Cornwell Appliances books to record the sale of the receivables. (For ternary account/ address entries, total amounts from largest to