PENGANTAR

AKUNTANSI 2 (S1)
PR: ACCOUNT RECEIVABLES
PROBLEM NO. 1
At December 31, 2021, the trial balance of Jonathan Markson Company contained the following
amounts before adjustment:
Debits Credits
Account receivable 350,000
Allowance for doubtful accounts 1,500
Sales 875,000

Instructions
(a) Prepare the adjusting entry at December 31, 2021, to record bad debt expense under each
of the following independent assumptions:
(1) An aging schedule indicates that $16,750 of account receivable will be uncollectible
(2) It is estimated that 2% of sales will be uncollectible
(b) Repeat part (a) assuming that instead of a credit balance there is a $1,500 debit balance in
the Allowance for Doubtful accounts

PROBLEM NO. 2
Albert Company has accounts receivables of $93,100 at March 31. An analysis of the accounts
shows the information as follow:
Month of Sale Balance, March 31
March $60,000
February 17,600
January 8,500
Prior to January 7,000
$93,100

Credit terms are 2/10, n/30. At March 31, Allowances for Doubtful Accounts has a credit balance of
$1,200 prior to adjustment. The company uses the percentage-of-receivables basis for estimating
uncollectible accounts. The company’s estimate of bad debts is as follows:

Age of accounts Estimated Percentage
Uncollectible
1-30 days 2.0%
31-60 days 5.0%
61-90 days 30.0%
Over 90 days 50.0%
Instructions
(a) Determine the total estimated uncollectible
(b) Prepare the adjusting entry at March 31 to record bad debt expense.

PROBLEM NO. 3
Following are the transactions in the Sand Castle during 2021:

May 17 Sold merchandise to Green Leaves for $1,200, terms n/10

Sept 20 Received $400 from Green Leaves on account
June 25 Wrote off as uncollectible the balance of the Green Leaves account when it was
declared bankrupt
July 27 Unexpectedly received a check for $200 from Green Leaves

Instructions
(a) Prepare the journal entries to record each of those transactions assuming that the direct
write-off method is being used

Pengantar Akuntansi 2 – Semester II 2022/2023 Page 1

 (b) Prepare the journal entries to record each of those transactions assuming that the
allowance method is being used

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