a)
Prepare the bank reconciliation at May 31, 2014. ............
b)
Prepare the necessary adjusting entries for Terrell Company at
May 31, 2014............
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ACC 557 Week 5, Chapter 8 (E8-3, E8-5, E8-14, P8-7A)
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ACC 557 Week 5, Chapter 8 (E8-3, E8-5, E8-14, P8-7A)
E8-3: The ledger of Elburn Company at the end of the current year
shows Accounts Receivable $110,000, Sales Revenue $840,000, and
Sales Returns and Allowances $28,000. ............
E8-5: 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.
E8-14: Lashkova Company had accounts receivable of $100,000 on
January 1, 2014. The only transactions that affected accounts