Accounting Homework

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Print by: Alfear Holmes ACC557065VA016-1146-001: Financial Accounting / Week 5 Homework: Chapter 08

*Exercise 8-5 At December 31, 2013, Crawford Company had a balance of $15,000 in Allowance for Doubtful Accounts. During 2014, Crawford wrote off accounts totaling $14,100. One of those accounts ($1,800) was later collected. At December 31, 2014, an aging schedule indicated that the balance in Allowance for Doubtful Accounts should be $19,000.

Prepare journal entries to record the 2014 transactions of Crawford Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation Debit Credit

(To record amount written off)

(To reverse write-off)

(To record collection of writeoff)

(To record estimated bad debts for the year)

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Page 1 of 1Exercise 8-5

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Exercise 8-5

Accounts Payable Accounts Receivable Allowance for Doubtful Accounts Bad Debts Expense Buildings Cash Cost of Goods Sold Income Summary Interest Receivable Interest Revenue Inventory Land Maintenance and Repairs Expense Notes Payable Notes Receivable Other Operating Expenses Owner's Capital Owner's Drawings Prepaid Insurance Sales Discounts Sales Returns and Allowances Sales Revenue Service Charge Expense Supplies Supplies Expense

Copyright © 2000-2014 by John Wiley & Sons, Inc. or related companies. All rights reserved.

List Of Accounts CLOSE

Page 1 of 1Exercise 8-5. List Of Accounts

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