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ACCT216 Week 3 Homework Assignment Set B

ACCT216 Week 3 Homework Assignment Set B

Author: l marshall

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, $550,000.b.     Collections on account, $325,000c.     Write-offs of uncollectibles, $13,000d.     Uncollectible account expense, 5% of sales revenueRequired:1.     Prepare the journal entries for the above transactions. 

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