Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off an $2,400 account of a customer, C. Green. On March 9, it receives a $1,900 payment from Green.
1. Prepare the journal entry for January 31.
2. Prepare the journal entries for March 9; assume no additional money is expected from Green. Record the write-off of Green's $2,400 account.
Answers: 2
Business, 21.06.2019 21:20
Reqwest llc agrees to sell one hundred servers to social media networks, inc. the servers, which social media networks expressly requires to have certain amounts of memory, are to be shipped âf.o.b. social media networks distribution center in tampa, fl.â when the servers arrive, social media networks rejects them and informs reqwest, claiming that the servers do not conform to social media networksâ memory requirement. a few hours later, the servers are destroyed in a fire at social media networksâ distribution center. will reqwest succeed in a suit against social media networks for the cost of the goods?
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Business, 21.06.2019 22:10
3. now assume that carnival booked lady antebellum in december 2016 to perform on the june 2017 western caribbean cruise. further assume that carnival pays lady antebellum its entire performance fee of $52,000 on december 28, 2016, for the june 2017 cruise. what journal entry will carnival make on december 28, 2016, for its payment to lady antebellum?
Answers: 1
Business, 21.06.2019 22:30
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Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off an...
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