BEH 225 Final Project Interview Profile

May 5th, 2015
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Here is the solution file for your BEH 225 Final Project Interview Profile assignment problem. You may buy it as your study guide and get good grades through researching more on this subject.

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ACC 281 Week 3 Individual AssignmentWeek 3 Individual AssignmentUniversity of PhoenixACC 281xxxxxxxxxxE9-3The ledger of Hixson Company at the end of the current year shows Accounts Receivable $120,000, Sales $840,000, and Sales Returns and Allowances $30,000.Instructions(a)If Hixson uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at December 31; assuming Hixson determines that Fells $1,400 balance is uncollectible.Dec31Bad Debt Expense1,400 Account Receivable(To record uncollectible balance fro Fell)1,400(b)If Allowance for Doubtful Accounts has a credit balance of $2,100 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be (1) 1% of net sales, and (2) 10% of accounts receivable.Dec31Bad Debts Expense8,100 Allowance for Doubtful Accounts(To record bad debt exp. $84,000-$30,0001%)8100Bad Debts Expense9,900 Allowance for Doubtful Accounts(To record bad debt exp. $120,00010%-$2,100)9,900(c)If Allowance for Doubtful Accounts has a debit balance of $200 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be (1) 0.75% of net sales and (2) 6% of accounts receivable.Dec31Bad Debts Expense6,075 Allowance for Doubtful Accounts(To record bad debt exp. $840,000-$30,000x.75%)6,075Bad Debts Expense

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