Morry Company Wrote Off the Following Accounts Receivable as Uncollectible

question 91

Essay

Morry Company wrote off the following accounts receivable as uncollectible for the first year of its operations ending December 31:
Required:
$\begin{array}{|l|r|}\hline \text { Customer } & \text { Amount } \\\hline \text { J. Jackson } & \$ 10,000 \\\hline \text { L. Stanton } & 9,500 \\\hline \text { C. Barton } & 13,100 \\\hline \text { S. Fenton } & 2,400 \\\hline \text { Total } & \$ 35,000 \\\hline\end{array}$
1 Journalize the write-offs for the current year under the direct write-off method.
2 Journalize the write-offs for the current year under the allowance method.Also,journalize the adjusting entry for uncollectible receivables assuming the company made $2,400,000 of credit sales during the year and the industry average for uncollectible receivables is 1.50% of credit sales.
3 How much higher or lower would Morry Company's net income have been under the direct write-off method than under the allowance method?

Recognize the significance of institutional integrity in health-seeking institutions as defined by Kolcaba.

Acknowledge the historical and theoretical influences on the development of Kolcaba's Comfort Theory.

Comprehend the various types and outcomes of comfort in Kolcaba's Theory.

Know the different interventions defined by Kolcaba that contribute to patient comfort.

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With intense, strong feelings or emotions, often used to describe romantic or sexual feelings.

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The aesthetic appeal or attractiveness of an individual, often based on societal standards.

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An emotional state characterized by elevated mood, energy, and activity levels, often associated with bipolar disorder.

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Having excessively persistent thoughts or feelings about someone or something that dominate one's mind.