Discuss the valuation of accounts receivable

Estimating uncollectible accounts and recording notes

1.Discuss the valuation of accounts receivable

2.Calculate estimated uncollectible accounts under the two allowance methods: the percentage of sales and percentage of receivables methodse

3.Journalize the issuance and receipt transactions related to notes receivable

4.Calculate interest on notes payable using the principle x rate x time formula

This week`s assignment requires the computation of estimated uncollectible accounts using both the percentage of credit sales and the percentage of accounts receivable methods. Use the Week

3 Assignment TemplatePreview the document.

Problem 1: Calculating and journalizing uncollectible accounts using the percentage of credit sales method.

Problem 2: Calculating and journalizing uncollectible accounts using the percentage of accounts receivable method and an A/R aging schedule.

Problem 3: Determining maturity date, maturity value and interest on notes. Record the issuance of notes, and receipt (honoring) of notes at maturity.