Susan Battle has trouble keeping her debits and credits equal. During a recent month, Susan made the following errors: a.In preparing the trial balance, Susan omitted a $6,600 note payable. b.Susan recorded a $120 purchase of supplies on account by debiting Supplies and crediting Accounts Payable for $210. c.In recording a $240 payment on account, Susan debited Supplies instead of Accounts Payable. d. In journalizing a receipt of cash from service revenue, Susan debited Cash for $90 instead of the correct amount of $900. The credit was correct. e. Susan posted a $1,000 utility expense as $100. The credit to Cash was correct. Required 1. For each of these errors, state whether total debits equal total credits on the trial balance. 2.Identify each account that has an incorrect balance, and indicate the amount and direction of the error (such as "Accounts Receivable $500 too high").

Susan Battle has trouble keeping her debits and credits equal. During a recent month, Susan made the following errors: a.In preparing the trial balance, Susan omitted a $6,600 note payable. b.Susan recorded a $120 purchase of supplies on account by debiting Supplies and crediting Accounts Payable for $210. c.In recording a $240 payment on account, Susan debited Supplies instead of Accounts Payable. d. In journalizing a receipt of cash from service revenue, Susan debited Cash for $90 instead of the correct amount of $900. The credit was correct. e. Susan posted a $1,000 utility expense as $100. The credit to Cash was correct. Required 1. For each of these errors, state whether total debits equal total credits on the trial balance. 2.Identify each account that has an incorrect balance, and indicate the amount and direction of the error (such as "Accounts Receivable $500 too high").

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter2: Analyzing Transactions

Section: Chapter Questions

Problem 5PB: Tech Support Services has the following unadjusted trial balance as of January 31, 2019: The debit...

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My New Business uses aging of receivables to determine the value for allowance for doubtful accounts. Below are the balances and due dates for each account. Determine the number of days past due for each of these accounts. Complete the aging of receivables schedule. Determine the allowance for doubtful accounts and write the journal entry. Would this entry change if there was a debit balance of $1500? Credit balance of $1500? Customer Due Date Balance ABC 1/4/18 $10,000 Buy Rite 2/8/18 $7500 Calming Solutions 3/13/18 $2200 Dry Fast 4/23/18 $3456 Easy Peasie 5/3/19 $683 Fast Service 6/1/18 $5682 Going Out 7/9/18 $1200 Hurry Up 8/25/18 $3800 Igloos R Us 9/22/18 $570 Jumpin Jack Flash 10/10/18 $250 King Kong Kopies 11/14/18 $6893 Lite It Up 12/1/18 $476 Magnificent Marketing 1/15/19 $1500 Aging Categories Age Class Percent Uncollectible Not past due 1% 1-…
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Please help. I can't figure out the answer. Thanks Questions needed answer: a. Prepare journal entries to record the credit sales, the collections on account, and the preceding transactions and adjustment. b. Show how Accounts Receivable and the Allowance for Doubtful Accounts would appear on the December 31 balance sheet. Note: The general journal in the picture are the parts I attempted to answer as you can see there are green check marks that represent a correct answer and red x for a wrong answer. The parts that has the red X are what I needed answers. Thanks