The Boise Tractor Company hired a new auditor DeBruins & Co. Upon review of their accounting records DeBruins made some suggestions regarding the information classified in the single account titled Receivables. The auditors found was the following:
Required:
1) Prepare the journal entry to separate the items into their proper accounts.
2) How should the items be reflected on Boise Tractors balance sheet?

Question

The Boise Tractor Company hired a new auditor DeBruins & Co. Upon review of their accounting records DeBruins made some suggestions regarding the information classified in the single account titled Receivables. The auditors found was the following: 
 Required:
1) Prepare the journal entry to separate the items into their proper accounts.
2) How should the items be reflected on Boise Tractors balance sheet?

Quizplus · Accepted Answer

The Answer of The Boise Tractor Company hired a new auditor DeBruins & Co. Upon review of their accounting records DeBruins made some suggestions regarding the information classified in the single account titled Receivables. The auditors found was the following: 
 Required:
1) Prepare the journal entry to separate the items into their proper accounts.
2) How should the items be reflected on Boise Tractors balance sheet?

The Boise Tractor Company Hired a New Auditor DeBruins