LESSON 17-2
Writing Off and Collecting
Uncollectible Accounts
Receivable

CENTURY 21 ACCOUNTING © 2009 South-Western, Ceng...
2
JOURNALIZING WRITING OFF AN
UNCOLLECTIBLE ACCOUNT RECEIVABLE

page 519

January 4. Wrote off Metro Food Court’s past-due...
3
POSTING AN ENTRY TO WRITE OFF AN
UNCOLLECTIBLE ACCOUNT RECEIVABLE

2
3
1

page 520

1. Post the debit amount to
general ...
REOPENING AN ACCOUNT
PREVIOUSLY WRITTEN OFF

4
page 521

January 30. Received cash in full payment of Metro Food Court’s
a...
5

RECORDING CASH RECEIVED FOR AN
ACCOUNT PREVIOUSLY WRITTEN OFF

page 522

January 30. Received cash in full payment of M...
6

POSTING ENTRIES FOR COLLECTING A
WRITTEN-OFF ACCOUNT RECEIVABLE

1
1

2

page 523

1. Post the general journal entry
to...
7

TERM REVIEW

page 524

 writing off an account

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

LESSON 1...
Upcoming SlideShare
Loading in …5
×

Lesson 17 2

314 views

Published on

Published in: Economy & Finance, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
314
On SlideShare
0
From Embeds
0
Number of Embeds
12
Actions
Shares
0
Downloads
2
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Lesson 17 2

  1. 1. LESSON 17-2 Writing Off and Collecting Uncollectible Accounts Receivable CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
  2. 2. 2 JOURNALIZING WRITING OFF AN UNCOLLECTIBLE ACCOUNT RECEIVABLE page 519 January 4. Wrote off Metro Food Court’s past-due account as uncollectible, $1,621.00. Memorandum No. 3. 1 2 2 1. Debit 2. Credit and customer’s name CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 17-2
  3. 3. 3 POSTING AN ENTRY TO WRITE OFF AN UNCOLLECTIBLE ACCOUNT RECEIVABLE 2 3 1 page 520 1. Post the debit amount to general ledger. 2. Post the credit amount to general ledger. 3. Post the credit amount to customer account. 4. Write Written off in the customer account. 4 CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 17-2
  4. 4. REOPENING AN ACCOUNT PREVIOUSLY WRITTEN OFF 4 page 521 January 30. Received cash in full payment of Metro Food Court’s account, previously written off as uncollectible, $1,621.00. Memorandum No. 5 and Receipt No. 12. 1 1 2 1. Enter a debit to Accounts Receivable. Place a diagonal line in the Post. Ref. column. 2. Enter a credit to Allowance for Uncollectible Accounts. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 17-2
  5. 5. 5 RECORDING CASH RECEIVED FOR AN ACCOUNT PREVIOUSLY WRITTEN OFF page 522 January 30. Received cash in full payment of Metro Food Court’s account, previously written off as uncollectible, $1,621.00. Memorandum No. 5 and Receipt No. 12. CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 17-2
  6. 6. 6 POSTING ENTRIES FOR COLLECTING A WRITTEN-OFF ACCOUNT RECEIVABLE 1 1 2 page 523 1. Post the general journal entry to the general ledger. 2. Post the debit portion of the general journal entry to the customer account. 3. Write the words Reopen account in the Item column of the customer account. 4. Post the cash receipts journal entry to the customer account. 3 4 CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 17-2
  7. 7. 7 TERM REVIEW page 524  writing off an account CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 17-2

×