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ACCT216 Week 3 Homework Assignment Set A

ACCT216 Week 3 Homework Assignment Set A

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1. Classify the following items as (a) an addition to the bank balance, (b) a subtraction from the bank balance, (c) an addition to the book balance, or (d) a subtraction from the book balance:
2. During 2013, Jimmy Enterprises completed the following transactions:a.     Sales revenue on account, $620,000.b.     Collections on account, $365,000c.     Write-offs of uncollectibles, $15,000d.     Uncollectible account expense, 4% of sales revenueRequired:1.     Start with an accounts receivable balance of $435,000 and post the above entries to the Accounts Receivable T-Account.


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