At December 31, 2018, Tamarisk, Inc. reported the following information on its balance sheet. Accounts receivable $967,000 Less: Allowance for doubtful accounts 75,000 During 2019, the company had the following transactions related to receivables. 1. Sales on account $3,951,880 2. Sales returns and allowances 55,000 3. Collections of accounts receivable 2,820,000 4. Write-offs of accounts receivable deemed uncollectible 95,000 5. Recovery of bad debts previously written off as uncollectible 28,000
1. Prepare the journal entires to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable.
2. Enter the January 1, 2017, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts (use T-accounts), and determine the balances.
3. Prepare the journal entry to record bad debt expense for 2017, assuming that an aging of accounts receivable indicates that expected bad debts are $115,000.
4. Compute the accounts receivable turnover for 2017, assuming the expected bad debt information provided in 3.

During january 2018, the following transactions occur: january 1 purchase equipment for $20,600. the company estimates a residual value of $2,600 and a five-year service life. january 4 pay cash on accounts payable, $10,600. january 8 purchase additional inventory on account, $93,900. january 15 receive cash on accounts receivable, $23,100 january 19 pay cash for salaries, $30,900. january 28 pay cash for january utilities, $17,600. january 30 firework sales for january total $231,000. all of these sales are on account. the cost of the units sold is $120,500. the following information is available on january 31, 2018. depreciation on the equipment for the month of january is calculated using the straight-line method. the company estimates future uncollectible accounts. at the end of january, considering the total ending balance of the accounts receivable account as shown on the general ledger tab, $4,100 is now past due (older than 90 days), while the remainder of the balance is current (less than 90 days old). the company estimates that 50% of the past due balance will be uncollectible and only 3% of the current balance will become uncollectible. record the estimated bad debt expense. accrued interest revenue on notes receivable for january. unpaid salaries at the end of january are $33,700. accrued income taxes at the end of january are $10,100

The adjusted trial balance for china tea company at december 31, 2018, is presented below:

Penny poodle wanted to know which dog obedience training program was more effective: puppy pride, the approach she has been using for any years, or doggie do-right, a new approach. penny convinced 50 human companions of untrained dogs to participate in her study. the dogs and their humans were randomly assigned to complete the puppy pride or doggie do-right course. at the end of the training programs, all of the dogs were scored on their level of obedience on a standardized dog obedience checklist (scores could range from 10 to 100). the design of this study is: