PROBLEM 1

1 Trade accounts receivable

Allowance for uncollectible accounts
Claim against shipper for goods lost in transit last November 2019
Trade and other receivables

PROBLEM 2
2 Accounts receivable – customers
Accounts receivable – officers
Debit balances – creditors
Cash received in advance from customers for goods not yet shipped
Allowance for doubtful accounts
Net receivables

3 Total accounts receivable

Net accounts receivable
Allowance for doubtful accounts, beg.

Total accounts receivable

Net accounts receivable
Allowance for doubtful accounts, end.

Allowance for doubtful accounts, beg.

Write off
Recovery
Doubtful accounts expense (SQUEEZE)
Allowance for doubtful accounts, end.

4 Credit sales
Collections
Accounts receivable, beg.

Accounts receivable, beg.

Credit sales
Collections
Accounts written off
Recovery in account previously written off
Accounts receivable, end.

Allowance for doubtful accounts, beg. Bal.

Write off
Recovery
Allowance for doubtful accounts, unadjusted

Allowance for doubtful accounts, end. Bal.

 Provision for uncollectible accounts

5 0-30 Days 1,264,800.00 0.46% 5,818.08

31-60 Days 691,500.00 1.72% 11,893.80
61-90 Days 288,600.00 10.38% 29,956.68
91-120 Days 114,975.00 41.80% 48,059.55
Over 120 Days 59,100.00 76.00% 44,916.00
REQUIRED Allowance for doubtful accounts 140,644.11
Allowance for doubtful accounts, unadjusted 126,751.00
Doubtful accounts expense 13,893.11
 93,000.00
- 2,000.00
3,000.00
94,000.00

7,800,000.00
500,000.00
300,000.00
100,000.00
- 200,000.00
8,500,000.00

96,000.00
- 94,500.00
1,500.00

105,000.00
- 102,000.00
3,000.00

1,500.00
- 3,200.00
800.00
3,900.00
3,000.00

6,000,000.00
- 4,500,000.00
1,500,000.00

1,500,000.00
8,000,000.00
- 6,950,000.00
- 70,000.00
20,000.00
2,500,000.00

300,000.00
- 70,000.00
20,000.00
250,000.00

375,000.00
125,000.00