CH 5 – Gross Balance Before Deductions
Financial Accounting
Thomas, Tietz, and Harrison
12th Edition
Given allowance and accounts receivable… determine gross balance before deductions.
Given allowance and accounts receivable… determine gross balance before deductions.
Given the amount of goods sold and credit terms… determine how much would be debited to cash.
Given the accounts receivable balance at the beginning and end of the year, sales, and write-offs… determine how much cash was collected.
Make the journal entry for the sale.
Given the merchandise sold, cost of sales, and estimated return rate… prepare the journal entries for the sales, cost of sales, estimated returns, and cost of estimated returns.