Prior to recording the following, Elite Electronics, Inc. had a credit balance of $1,500 in its Allowance for Doubtful Accounts.

Required:
Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

a.
On August 31, a customer balance for $250 from a prior year was determined to be uncollectible and was written off.

b.
On December 15, the customer balance for $250 written off on August 31 was collected in full.

Journal Entry Worksheet

Record the write-off of a certain customer account from a prior year which is not collectible totaling $250.

Transaction General Journal Debit Credit
a
b(1) Record the reversal of the write-off the $250 customer account

Tansaction General Journal Debit Credit
b(1)
b(2) Record the reciept of cash of $250 from the customer

Transaction General Journal Debit Credit
b(2)

Witch is an example of a non durable good?

4. the condition requires that only one of the selected criteria be true for a record to be displayed.

P11.2a (lo 2, 4) fechter corporation had the following stockholders’ equity accounts on january 1, 2020: common stock ($5 par) $500,000, paid-in capital in excess of par—common stock $200,000, and retained earnings $100,000. in 2020, the company had the following treasury stock transactions. journalize and post treasury stock transactions, and prepare stockholders’ equity section. mar. 1 purchased 5,000 shares at $8 per share. june 1 sold 1,000 shares at $12 per share. sept. 1 sold 2,000 shares at $10 per share. dec. 1 sold 1,000 shares at $7 per share. fechter corporation uses the cost method of accounting for treasury stock. in 2020, the company reported net income of $30,000. instructions a. journalize the treasury stock transactions, and prepare the closing entry at december 31, 2020, for net income. b. open accounts for (1) paid-in capital from treasury stock, (2) treasury stock, and (3) retained earnings. (post to t-accounts.) c. prepare the stockholders’ equity section for fechter corporation at december 31, 2020.