Intermediate Acc. I แบบฝึกหัดบทที่ 4 การบัญชีลูกหนี้การค้าและตั๋วเงินรับ

10
4

1
(
)
3

30,000 2/10, n/60
f.o.b. shipping point

900 n/30

8

5,000
Credit memo

250 7
12

.

1.
(Gross method)
11
2.
(Net
method)
2. 2

29
. 1.
(Gross
Method)

. 1
...
25x
8
.. 3 -
30,00 0
30,0 00
2/10,
n/30
5
5,000 -
5,00 0
12

7 (
250 -
)
250 -
1
2
24,50 0
500 -
25,0 00
2. (Net Method)

...
25x
8
13
..
3 -
29,40 0
29,4 00
2/10,
n/30
5
4,900 4,90 0

7 (
250 -
)
250 -
1
2
24,50 0
-
24,5 00
14

29
...
.. 2
9
500 -
500 -
2/10, n/30
2
9
25,00 0
25,00 0
15
2 ( )

1 25x5

400,000
20,000
25x5 45,000
(
) 25x5 1,200,000
200,000
900,000 25x5

1.

4%
()

25x5

2.

9%

()
25x5
16
1.

...
25
x5
. 31
45,00 0
45,0 00
45,00 0
45,0 00
17
40,00 0
40,0 00
4%
(1,000,000x
4%=40,000)

()
31 25x5
455,000

(20,00045,000+40,000)
-
15,000
440,000
2.

18
..
.
25
x5
. 3
1
.
45,0 00
45,0 00
65,9 50
65,9 50
9%

(455,000x 9%= 40,950
+ 25,000 = 65,950)

( )
31 25x5
455,0
00
19
40,95
0
414,0
50
3 ( )

25x6
1. 1 25x6

40,000

75%

24%

2. 19,700

800
3. 31 25x5

4.
200

20
5. 28 25x6

..
.
25
x5
. 1
.
40,00 0
40,00 0
30,00 -
21
0
30,00 0
24%
30,000
19,70 0
800 -
20,50 0

. 3

1
.
12,50 0

(30,000x24%=7,200)
7,200 19,70 0

1
(30,000x24%=7,200)
.
200 -
.
19,30 0
19,50 0
22

. 2

8
.
17,50 0
4,200 -
(17,500x24%=4,200)
21,70 0
4 (
)
31
25x6

90,000
2,120
( )
500,000
7,600

( )
1.

20,000

(Factor
23
without recourse)

10%

2. 1
54,000

65,000

8%

3.

4%
4.
1.5 %
5.
31
25x6
6,000
6.

() 5,300
...
18,00 0
24
2,000 20,0 00

10%
2
65,00 0
65,0 00
8%
49,68 0
4,320 54,0 00
1,480 -

4%
90,000x
2,120=1,480
4%=3,600-
1,48 0
25
7,386 -
7,38 6
1.5%
500,0007,600=492,400x1.5%=7,3
86
5
3,880 -
3,88 0

6,000
(6,000-2,120= 3,880)
6
5,300 -
5,30 0
5,300 -
26
5,30
0

5 ( )
NT 90,000
CPA

CPA
CPA 15 25x6
2%
4%
15
25x6
NT
NT
...
27
25x
6
.. 1
5
84,60 0
1,800 -
-
CPA
3,600 -
90,0 00

2%

4%
6 (
)

.. 1

7,200
60 10%
16

12%
.. 30

1.

( )
28
2.

25
...
25x
5
.. 1
7,200 7,20 0
10%
60
.. 3
10%
7,200 -
29
0
120 -
(7,200x10%x60/360=120
)
7,32 0
...
25x
5
.. 1
10%
7,200 7,20 0

60
1
(7,320-110)
6
7,210 7,20 0
30
(7,200-7,210=10)
10
110
(7,320x12%x45/360=110
)
.. 3

0
7,200 7,20 0
10%
.. 3

0
7,200 7,20 0
10%
-

(7,200+120+25)
25
7,345 7,34 5
31
7 (Aging Analysis of Accounts Receivable)

Nana Companys a large department store
located in a metropolitan area, has been
experiencing difficulty in estimating its bad debts.
The company has decided to prepare an aging
schedule for its outstanding accounts receivable
and estimate bad debts by the due dates of its
receivables. This analysis discloses the following
information:
Balance
$193,000
114,000
73,000
41,000
25,000
19,000
Age of
Estimated Percentage
Receivable
Uncollectible
Under 30
0.8%
days
30-60
2.0%
days
61-120
5.0%
days
121-240
20.0%
days
241-360
35.0%
days
Over 360
60.0%
days
Total
$465,000
Required
1. Use the preceding analysis to compute the
estimated amount of uncollectible
receivables.
2. Prepare the journal entry to record Nana
Company estimated uncollectible, assuming
32
the balance in the Allowance for Doubtful

Accounts prior to adjustment is:
a. 0
b. $3,000 (Debit)
c. $2,800 (Credit)
1. Use the preceding analysis to compute the
estimated amount of uncollectible
receivables
Nana Company
December 31, 2012
Schedule of Estimated Uncollectibles
Estimated
Estimated
Percentage
Amounts
Age
Amount
Uncollectibl
e
Under 30
$193,00
0.8%
1,544
Days
0
30-60 days
114,000
2.0%
2,280
61-120 days
73,000
5.0%
3,650
121-240
41,000
20.0%
8,200
days
241-360
25,000
35.0%
8,750
days
Over 360
19,000
60.0%
11,400
days
Total
$465,0
35,824
00
2. Prepare the journal entry to record Nana
Company estimated uncollectible, assuming
the balance in the Allowance for Doubtful
Accounts prior to adjustment is:
a. 0
Dr. Doubtful Accounts
35,824
Cr. Allowance for Doubtful
Accounts
35,824
33
b. $3,000 (Debit)
38,824
Accounts
38,824
c. $2,800 (Credit)
33,024
Accounts
33,024
8 (Estimating Bad Debts from Receivables
Balances)
The following information is extracted from the
accounting records of the Shelton Corporation at the
beginning of 2012:
Accounts Receivable
$63,000
Allowance for Doubtful Accounts
1,400 (Credit)
During 2012 sales on credit amounted to
$575,000, $557,400 was collected on outstanding
receivables, and $2,600 of receivables were written
off as uncollectible. On December 31, 2012,
Shelton estimates its bad debts to be 4% of the
outstanding gross accounts receivable balance.
Required
1. Prepare the journal entry to record Sheltons
estimate of bad debt expense for 2012.
2. Prepare the Accounts Receivable section of
Sheltons December 31, 2012 financial
position statement.
Nana Company
General Journal
Page 1
P/R
Dr.
Cr.
Date
Accounts Title
34
201
2
Accounts Receivable
575,0 00
Sale
575,
000
557,
400
Recorded credit sale

Cash
557,4 00
Accounts
Receivable
Recorded cash from
accounts receivable
Bad debt
Accounts
Receivable
Recorded bad debt
2,600 -
Allowance for Doubtful

Account
Doubtful Account
2,600 -
2,60 0
2,60 0
Recorded bad debt

Doubtful Account
Allowance for
Doubtful Account
Recorded estimate
allowance for doubtful
account 4% of gross
account receivable
63,000+575,000557,400-2,600=78,000
78,000x4%=3,120
3,120+1,200 (1,400-
4,320 4,32 0
35
2,600)=4,320
Nana Company
Financial position statement
December 31, 2012
Assets
Current Assets
Accounts Receivable
78,000
Less Allowance for Doubtful Account
3,120
Accounts Receivable-Net
74,880
9 (Estimation vs. Direct Wrote-Off of Bad
Debts)
The Blue Company makes credit sales of
$21,000 during the month of February 2012. During
2012 collections are received on February sales of
$20,400, accounts representing $600 of these sales
are written off as uncollectible, and a $100 account
previously written off is collected.
Required
Prepare the journal entries necessary to record
the preceding information if
1)Bad debts are estimated as 3% if sales at the
time of sales, and
2)The bad debts are recorded as they actually
occur.
Date
201
The Blue Company

General Journal
Page 1
P/R
Accounts Title
Dr.
Cr.
36
2
Feb
.
Accounts Receivable
21,00 0
Sale
21,0 00
Recorded credit sale

Cash
20,40 0
Accounts
Receivable
Recorded received from
accounts
20,4 00
Bad debt
Accounts
Receivable
Recorded bad debt
600 -
Allowance for Doubtful

Account
Doubtful
Account
Recorded bad debt
600 -
Cash
100 -
600 -
600 -
Revenue from
100 -
bad debt
Recorded received from
bad debt
Doubtful Account
Allowance for
Doubtful Account
Recorded estimate
doubtful account 3%
of credit sales
630 630 -
37
10 (Comparison of Bad Debt Estimation

Methods)
The following information (Prior to adjustment)
is available from the accounting records of the Boy
Company on December 31, 2012:
Cash sales
$93,100
Net credit sales
262,900
Total sales (Net)
$356,000
Accounts receivable
126,300
Allowance for doubtful accounts
2,150
(Credit)
Required
Prepare journal entries to record the estimate of
Boys bad debt expense for 2012 assuming:
1. Bad debts are estimated to be 1.5% of total
sales (Net)
2. Bad debts are estimated to be 2% of net
credit sales.
3. Bad debts are estimated to be 5% of gross
accounts receivable
Date
The Boy Company

General Journal
Page 1
P/
Accounts Title
R
Dr.
Cr.
201
2
1 Doubtful Account
Allowance for
Doubtful Account
5,34 0
5,34 0
38
Recorded estimate doubtful

account 1.5%
Of total net sales
2 Doubtful Account
5,25 8
Allowance for
Doubtful Account
account 2%
Of total net credit sales
3 Doubtful Account
Allowance for
Doubtful Account
account 5%
of gross accounts
receivable
(126,300x5%=6,315 2150= 4,165)
5,25 8
4,16 5
4,16 5
11 (Recording Notes Receivable

Discounted)
The following are events of the Singer
Corporation for the current year:
June 30 Bay Manufacturing gives Singer a $5,000,
11%, 90-day note for
merchandise purchased.
39
July 15
Dillon Construction Company gives
Singer a $6,000, 10%, 60-day note
for merchandise originally purchased on
April 20 of the current year.
July 30
The Bay and Dillon notes are
discounted with recourse by Singer at its
bank at 12%.
Sept. 15 The bank notifies Singer that the Dillon
note was paid.
Sept. 30 The bank notifies Singer that Bay defaulted
on the note and charges the
amount of principal, interest, and a fee of
$10 against Singers bank account.
Required
Prepare journal entries to record the preceding
information on Singers accounting records,
(Assume that the company does not normally
discount its notes.)
The Singer
Corporation
Date
201
2
Jun 3
e
0
General Journal
Page 1
P/R
Accounts Title
Note receivable
Dr.
5,000 -
Accounts
receivable
Recorded Bay give Note
receivable
$5,000,11%, 90 day
July 1 Note receivable
5
Cr.
5,00 0
6,000 -
40
Accounts
receivable
6,00
0
Recorded Dillon give Note

receivable
$6,000,10%, 60 day
July 3 Cash
0
Note receivable
discounted
Interest
receivable
Discounted Note
receivable
1. 5,000+
(5,000x11%x90/360)
= 5,138
2. 5,138x12%x60/360
= 103
3. 5,138-103
= 5,035
4. 5,000-5,035
=35
Cash
Note receivable
discounted
Interest
receivable
Discounted Note
receivable
1. 6,000+(6,000x10%x6
0/360) = 6,100
2. 6,100x12%x45/360
5,035 5,00 0
35 -
6,008
6,00 0
8 -
41
= 92
3. 6,100-92
= 6,008
4. 6,000-6,008
=
8
Sep 1 Note receivable
t.
5 discounted
Note receivable
6,000 6,00 0
Cancel Note receivable

discounted
Sep 3 Note receivable
t.
0 discounted
Note receivable
5,000 5,00 0
Cancel Note receivable

discounted
Accounts Receivable
Cash in bank
5,148 5,14 8
Paid for note receivable

discounted were
Dishonor
(5,000+138+10=5,148)
12 (Computing the Proceeds from
Discounted Notes)
Below are several customer notes.
1. An $8,000, 60-day, non-interest-bearing note
discounted after 15 days at 12%
2. A $9,000, 12%, 60-day, note discounted after
30 days at 14%.
42
3. A $6,000, 10%, 90-day, note discounted after

30 days at 12%.
4. A $10,000, 12%, 120-day, note discounted
after 45 days at 15%.
Required
Determine the Proceeds from each of the preceding
discounted customer notes.
Example: Note Assignment

1.Face value of note
xxx
2.Interest to maturity
+xxx
3.Maturity value of note
xxx
4.Discount
5.Proceeds received
xxx
6.Accrued interest revenue
xxx
7.Book value of note
xxx
8.Loss from discounting of note
xxx
Note no.1
8,000
8,000
-xxx
43
4.Discount (8,000x12%x45/360)
120
5.Proceeds received
7,880
8,000
8.Loss from discounting of note
120
Note no.2
9,000
(9,000x12%x60/360)
180
9,180
4.Discount (9,180x14%x30/360)
107
5.Proceeds received 9,180-107=
9,073
(9,000x12%x30/360)
90
9,090
8.Loss from discounting of note (9,0909,073)=
17
Note no. 3
6,000
(6,000x10%x90/360)
6,150
150
44
4.Discount (6,150x12%x60/360)
123
5.Proceeds received
6,027
(6,000x10%x30/360)
50
7.Book value of note 6,000+50=
6,050
8.Loss from discounting of note(6,0506,027)=
23
Note no. 4
10,000
(10,000x12%x120/360)
400
10,400
4.Discount (10,400x15%x75/360)
325
5.Proceeds received
10,075
(10,000x12%x45/360)
150
10,150
8.Loss from discounting of note (10,15010,075)=
75

1
1.
2.
8,000
45
3.

8,000
4.
120
5.
7,880
6.
7.
8,000
8./
120
13 (Interest-Bearing and Non-InterestBearing notes)
On December 11, 2012, the Hope Bank loans a
customer $12,000 on a 60-day, 12% note.
Required
Prepare the journal entries necessary to record
the receipt of the note by Hope, and the accrual of
interest on December 31, 2012, and the customers
repayment on February 9, 2013, assuming:
1. Interest was assessed in addition to the face
Value of the note.
2. The note was issued as a $12,000 noninterest-bearing note.
46
Date
20
12
De
c.
1
1
1. Interest was assessed in addition to the

face Value of the note.
The Hope Bank
General Journal
Page 1
P/
Dr.
Accounts Title
R
Note receivable
12,0
00
Cr.
Cash
12,0 00
Receivable note for loans

customer
Accrual interest revenue
3
1
80
-
Interest revenue
Adjusted the accrual of
interest
12,000x12%x20/360=80
20
13
Feb 9
.
Cash
12,2 40
Note receivable
revenue
80 -
Accrual interest
Interest revenue
Received amount of
principle and interest
12,000x12%x40/360=160
12,0 00
80 160 -
47
Date
20
12
De 1
c.
1
2. The note was issued as a $12,000 noninterest-bearing note.

The Hope Bank
General Journal
Page 1
P/R
Dr.
Accounts Title
Note receivable
12,00
0 -
Cash
11,7 60
240 -
Discount note
receivable
Receivable note for loans
customer
12,000x12%x60/360=240
3
1
Discount note receivable
80
Interest revenue
Adjusted the accrual of
interest
12,000x12%x20/360=80
20
13
Feb 9
.
Cash
Discount note receivable
Note receivable
Interest revenue
Received amount of
principle and interest
Cr.
80 -
12,00 0
160 12,0 00
160 -
48
12,000x12%x40/360=160
14 (Notes Receivable and Notes Receivable

Discounted)
The following notes receivable transactions
occurred for the Hara Company during the last three
months of the current year. (Assume all notes are
dated the day the transaction occurred.)
Oct. 9
Received a $5,000, 12%, 60-day note
from Kanda a customer.
Oct.12
from Darun a customer.
Oct.15
Discounted the Kanda note with
recourse at the bank at 14%.
Nov.11
Discounted the Darun note with
Nov.16
from Nena a customer.
Nov.20
from Wanna a customer.
Dec. 1
from Wirun a customer.
Dec. 8
Received notice that the Kanda note
was paid at maturity.
Dec.10
Discounted the Wanna note with
Required
1. Prepare journal entries to record the preceding
note transactions and the necessary adjusting
entries on December 31. (Assume that Hara
does note normally discount its notes)
The Hara Company
General Journal
Page 1
49
Date
20
12
Oct
.
Accounts Title
9 Note receivable
P/
R
Dr.
5,00 0
Accounts
receivable
Received a $5,000, 12%,
60-day note from
Kanda a customer
Oct 1
.
2
Note receivable
5,00 0
6,00 0
Accounts
receivable
Received a $6,000, 10%,
90-day note from
Darun a customer.
Oct 1
.
5
Cash
Interest expense
Note receivable
discounted
Discounted the Kanda note
with recourse
at the bank at 14%.
1.
5,000x12%x60/360=1
00 5,100
2.
5,100x14%x54/360=1
07
107
3. Cash received
4,993
Cr.
6,00 0
4,99 3
7 5,00 0
50
4. 5,000-4,993 =
7
No
v.
1
1
Cash
Interest expense
Note receivable
discounted
Discounted the Darun note
with recourse
at the bank at 15%.
1.
5,99
6
4 6,00 0
6,000x10%x90/360=1
50
6,150
2.
6,150x15%x60/360=1
54
154
3. Cash received
5,996
4. 6,000-5,996
4
No
v.
1
6
Note receivable
8,00 0
Account
receivable
Received a $8,000, 12%,
60-day note from
Nena a customer
No
v.
2
0
Note receivable
Account
receivable
8,00 0
6,00 0
6,00 0
51
Received a $6,000, 11%,

120-day note from
Wanna a customer.
De
c.
Note receivable
9,00 0
Account
receivable
Received a $9,000, 13%,
90-day note from
Wirun a customer
De
c.
Note receivable discounted
9,00 0
5,00 0
Note receivable
5,00 0
Received notice that the

Kanda note was
paid at maturity.
De
c.
1
0
Cash
Interest expense
Note receivable
discounted
Discounted the Wanna note
with recourse
at the bank at 13%.
1.
6,000x11%x120/360=
220 6,220
2.
6,220x13%x100/360=
225
225
3. Cash received
5,995
5,99 5
5 6,00 0
52
4. 6,000-5,995

Intermediate Acc. I แบบฝึกหัดบทที่ 4 การบัญชีลูกหนี้การค้าและตั๋วเงินรับ

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Intermediate Acc. I แบบฝึกหัดบทที่ 4 การบัญชีลูกหนี้การค้าและตั๋วเงินรับ

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10

7 (Aging Analysis of Accounts Receivable)

the balance in the Allowance for Doubtful

Recorded credit sale

Allowance for Doubtful

Recorded bad debt

The Blue Company

Recorded credit sale

Allowance for Doubtful

10 (Comparison of Bad Debt Estimation

The Boy Company

Recorded estimate doubtful

11 (Recording Notes Receivable

Recorded Dillon give Note

Cancel Note receivable

Cancel Note receivable

Paid for note receivable

3. A $6,000, 10%, 90-day, note discounted after

Example: Note Assignment

1. Interest was assessed in addition to the

Receivable note for loans

2. The note was issued as a $12,000 noninterest-bearing note.

Discount note receivable

14 (Notes Receivable and Notes Receivable

Received a $6,000, 11%,

Note receivable discounted

Received notice that the

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