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.
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