At the end of 2020, oriole co. has accounts receivable of $775,800 and an allowance for doubtful accounts of $71,100. on january 24, 2021, the company learns that its receivable from megan gray is not collectible, and management authorizes a write-off of $7,200. on march 4, 2021, oriole co. receives payment of $7,200 in full from megan gray. prepare the journal entries to record this transaction.

Record the journal entry for the provision for uncollectible accounts under each of the following independent assumptions: a. the allowance for doubtful accounts before adjustment has a credit balance of $500. b. the allowance for doubtful accounts before adjustment has a debit balance of $250. c. assume that octoberʼs credit sales were $70,000. uncollectible accounts expense is estimated at 2% of sales. smith, gaylord n.. excel applications for accounting principles (p. 51). cengage textbook. kindle edition.

In microeconomics, the point at which supply and demand meet is called the blank price

On july 2, year 4, wynn, inc., purchased as a short-term investment a $1 million face-value kean co. 8% bond for $910,000 plus accrued interest to yield 10%. the bonds mature on january 1, year 11, and pay interest annually on january 1. on december 31, year 4, the bonds had a fair value of $945,000. on february 13, year 5, wynn sold the bonds for $920,000. in its december 31, year 4, balance sheet, what amount should wynn report for the bond if it is classified as an available-for-sale security?