Java Games: Flashcards, matching, concentration, and word search.

Accounting for Uncollectible Accounts Receivable

Introduction of estimating uncollectible accounts expense, analyzing an adjustment for uncollectible accounts expense, then entering an adjustment for uncollectible accounts expense on a Work Sheet. Introduction of journalizing writing off an uncollectible account receivable and posting the entry to write off an uncollectible A/R. Introduction of journalizing collecting a written off A/R using the General Journal to reopen the customer account and the Cash Receipts Journal to record the cash received from the customer for the account previously written off, then posting the entry for collecting the written off A/R to the A/R ledger and the General ledger.
AB
Uncollectible accountsAn accounts receivable that cannot be collected.
Allowance method of recording losses from uncollectible accounts-crediting the estimated value of uncollectible accounts to a contra accountAn allowance method of recording losses from uncollectible accounts-crediting the estimated value of uncollectible accounts to a contra account.
Book value of accounts receivableThe difference between the balance of Accounts Receivable and its contra account, Allowance for Uncollectible Accounts.
Writing off an accountCanceling the balance of a customer account because the customer does not pay.
The adjustment for uncollectible accounts expense isUncollectible Accounts Expense - Debit, Allowance for Uncollectible Accounts - Credit
The journal entry for writing off an uncollectible account receivableAllowance for Uncollectible Accounts - Debit, Accounts Receivable - Credit, Comany's Name that owes you money - Credit
The journal entry for collecting a written-off account receivableAccounts Receivable - Debit, Allowance for Uncollectible Accounts - Credit, Company Name that owes you money - Debit
The uncollectible accounts expense account increases on the The uncollectible accounts expense increases on thedebit side
The accounts receivable account increases on thedebit side
The allowance for uncollectible accounts increases on thecredit side


Ms. Maye
Instructor
ESHS
El Segundo, CA

This activity was created by a Quia Web subscriber.
Learn more about Quia
Create your own activities