Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver

تمرين 42

Applying the direct write-off method to account for uncollectibles
Sherman Peterson is an attorney in Los Angeles. Peterson uses the direct write-off method to account for uncollectible receivables.
At January 31, 2012, Peterson's accounts receivable totaled $15,000. During February, he earned revenue of $18,000 on account and collected $19,000 on account. He also wrote off uncollectible receivables of $1,800 on February 29, 2012.
Requirements
1. Use the direct write-off method to journalize Peterson's write-off of the uncollectible receivables.
2. What is Peterson's balance of Accounts receivable at February 29, 2012 Does Peterson expect to collect the total amount