Module 11 Assignment:         
 Outfitters Supply Co. completed the following transactions during the year.           
              
 20-JanSold Inventory to Henry G., $600, on account. Ignore COGS.     
 1-JunLoaned $10,000 cash to Kayaks Inc., receiving a 6 month, 11% note.    
 30-JunWrote off the Henry G. account as uncollectible after repeated efforts to collect from him. 
 15-AugReceived $200 from Henry G., along with a letter stating his intention to pay within 30 days. Reinstated his account in full
 7-SepReceived the balance from Henry G.       
 1-DecCollected the maturity value on the Kayaks Inc. note.     
 19-DecReceived a $3000, 60 day, 12% note on account from Tommy R.    
 31-DecWrote off the following accounts as uncollectible:      
  Jones $700, Smith $300, Kettle $600       
 31-DecBased on an aging of accounts receivable, estimated uncollectible accounts is $2900  
 31-DecMade an adjusting entry to accrue the interest on the Tommy R. note    
              
              
 Requirements:           
              
 1Journalize the transactions, omitting explanations.
The December 31 balance of Accounts Receivable is $139,000 and the balance in the Allowance account is Credit $1,800. 
  Journal
  DateAccountsPost. RefDebitCredit
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
              
              
 2Post the beginning balance to the allowance for uncollectible accounts T to determine the adjusting  entry needed for bad debt expense.
  Allowance        
              
              
              
              
             
              
              
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