Problem 8-2B, Problem 8-6B, Problem 9-2B, Problem 9-7B

Problem 8-2B

(a) Journalize the transactions, including explanations.  (Note, enter all accounts in one box.  The dates have been included to help with formatting). 

(b) Enter the January 1, 2014 balances in Accounts Receivable and Allowance for Doubtful Accounts. Post the transactions to the ledger T Accounts

Be sure to post the amounts to the correct side of the T-Account!

(c) Prepare the journal entry to record bad debt expense for 2014, assuming that aging the accounts receivable indicates that expected bad debts are $140,000.

            Balance needed...............................................................................                                               $

            Balance before adjustment [see (b)]................................................                                                 

            Adjustment required.......................................................................                                                $

            The journal entry would therefore be as follows:

(d) Accounts Receivable Turnover Ratios:

Enter your answer here

Average Collection Period: 

Enter your answer here

Problem 8-6B

(a) Journalize the transactions, including explanations.  (Note, enter all accounts in one box.  The dates have been included to help with formatting). 

Problem 9-2B

(a) Journalize the transactions, including explanations.  (Note, enter all accounts in one box.  The dates have been included to help with formatting). 

If there are two entries for the same day, then you do not need to enter the date again.

(c) Partial Balance Sheet

Problem 9-7B

(a)

(b)