Acct excel and forum

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stice19_student_07-47.xlsx
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07-47

07-47 Name:
To enter the journal entries, select the appropriate account titles from the drop-down lists
provided in the blue-shaded cells in columns C and D, and enter the appropriate amounts in
the blue-shaded cells in columns G and I. Round your answers to nearest whole number.
1. GENERAL JOURNAL
Account Title Debit Credit
Accounts Receivable
Allowance for Bad Debts
Bad Debt Expense
Cash
Sales
Sales Discounts
Sales Returns and Allowances
2. GENERAL JOURNAL
Account Title Debit Credit
Adjusting Entry

Solution

07-47 Name: Solution
To enter the journal entries, select the appropriate account titles from the drop-down
menus given in the blue-shaded cells in columns C and D, and the appropriate amounts in
the blue-shaded cells in columns G and I. Round your answers to nearest whole number.
GENERAL JOURNAL
1. Account Title Debit Credit
Cash 210,270 Accounts Receivable
Accounts Receivable 380,780 Allowance for Bad Debts
Sales 591,050 Bad Debt Expense
Cash
Cash 303,800 Sales
Sales Discounts 12,658 Sales Discounts
Accounts Receivable 316,458 Sales Returns and Allowances
Allowance for Bad Debts 5,250
Accounts Receivable 5,250
Sales Returns and Allowances 63,800
Accounts Receivable 683,800
Sales Returns and Allowances 13,318
Cash 13,318
Accounts Receivable 8,290
Allowance for Bad Debts 8,290
Cash 8,290
Accounts Receivable 8,290
2. GENERAL JOURNAL
Account Title Debit Credit
Adjusting Entry
Bad Debt Expense 4,665
Allowance for Bad Debts 4,665