At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales $ 918,000 Credit sales 318,000 Its year-end unadjusted trial balance includes the following items. Accounts receivable $ 143,000 debit Allowance for doubtful accounts 6,800 debit

Journal entries

Explanation:

The journal entries are as follows

a. Bad debt expense  $15,900         ($318,000 × 5%)

             To Allowance for doubtful debts $15,900    

(Being the bad debt expense is recorded)      

b. Bad debt expense  $37,080   ($318,000 + $918,000) × 5%0.

             To Allowance for doubtful debts $37,080  

(Being the bad debt expense is recorded)      

c. Bad debt expense  $18,240   {($143,000 × 8%) + $6,800}

             To Allowance for doubtful debts $18,240

(Being the bad debt expense is recorded)      

Since same entry are passed but the amount are different as in the first case the bad debt is calculated on credit sales. In the second case, it is calculated on total sales and on the third case it is calculated on account receivable after considering the debit balance

two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.