amy chan sales leder has the following balances on 1 march 2006:
R Cheung $6,500
D Tang $8,000
on 15 june, amy apreed to accept $6,000 from RCheung and regarded the remaining balance as irrecoverable. on 20 semptember DTang was declared bankrupt. a cash payment of 20%of the debts was received.
show how these matters would be recorded in amy leders for the year ended 31 december 2006.
我不明白之後收到那筆錢為什麼是2007年11月3 日BABK ACCOUNT,請詳細解釋
bad debts problem
2012-11-18 2:11 am
回答 (2)
2012-11-18 5:19 am
✔ 最佳答案
On receipt of the cash payment from R on 15 June, 2006, Dr. Bank $6000 Dr. Bad Debts $500 Cr. Trade Debtors $6,500On knowing D was bankrupted, an adjustment via journal entry in the sales edger will be Dr. Bad Debts $6,400 Cr. Trade Debtors $6,400. The remaining balance due from D will be adjusted to be $1,600 as at 31 December, 2006 and will be carried forward to next year's account.
On receipt of money received in 3 November, 2007, Dr. Bank $1,600 Cr. Trade Debtors $1,600. The balance due from D will then be zero.
2012-11-18 6:47 pm
On the Amy Chan's sales ledger
For R Cheung
R Cheung is a debtor of Amy Chan & R cheung has a debit balance of $6,500
on March 1,2006. On June 15, $6,000 is received from R Cheung, therefore,
the double entry should be Dr. Bank $6,000 , Cr. R.Cheung $6,000.
Unfortunately, the remaining balance of $500 is irrecoverable. Therefore,
we treated this $500 as a bad debt. the entry for the bad debt is
Dr. Bad Debt $500 & Cr. R Cheung $500. As a result, R Cheung account
is closed.
For D Tang
D Tang is also a debtor of Amy Chan & D Tang has a debit balance of $8,000
on March 1,2006. On September 20, D Tang was declared bankrupt &
a cash payment of 20% of the debts was received.
(9月20日 D Tang 宣佈破產, 但宣佈破產那一刻, Amy Chan 還未收到
剩下20% of the debt. 直至到2007年11月3 日 D Tang 才還錢給
Amy Chan, 所以2007年11月3 日才有錢收,就是這個原因)
20% of the debts was received from D Tang
Dr. Bank $1,600 ($8,000 x 20%)
Cr. D Tang $1,600
80% of the debts were irrecoverable (Bad Debt)
Dr. Bad Debt $6,400 ($8,000 - $1,600)
Cr. D Tang $6,400
As a result, D Tang account is closed
The bad debt account of $6,900 ($500 + $6,400) is charged
to Profit and Loss account as an expenses.
For R Cheung
R Cheung is a debtor of Amy Chan & R cheung has a debit balance of $6,500
on March 1,2006. On June 15, $6,000 is received from R Cheung, therefore,
the double entry should be Dr. Bank $6,000 , Cr. R.Cheung $6,000.
Unfortunately, the remaining balance of $500 is irrecoverable. Therefore,
we treated this $500 as a bad debt. the entry for the bad debt is
Dr. Bad Debt $500 & Cr. R Cheung $500. As a result, R Cheung account
is closed.
For D Tang
D Tang is also a debtor of Amy Chan & D Tang has a debit balance of $8,000
on March 1,2006. On September 20, D Tang was declared bankrupt &
a cash payment of 20% of the debts was received.
(9月20日 D Tang 宣佈破產, 但宣佈破產那一刻, Amy Chan 還未收到
剩下20% of the debt. 直至到2007年11月3 日 D Tang 才還錢給
Amy Chan, 所以2007年11月3 日才有錢收,就是這個原因)
20% of the debts was received from D Tang
Dr. Bank $1,600 ($8,000 x 20%)
Cr. D Tang $1,600
80% of the debts were irrecoverable (Bad Debt)
Dr. Bad Debt $6,400 ($8,000 - $1,600)
Cr. D Tang $6,400
As a result, D Tang account is closed
The bad debt account of $6,900 ($500 + $6,400) is charged
to Profit and Loss account as an expenses.
收錄日期: 2021-04-16 15:17:59
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