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ACCT- Jenkins, inc., which sells household appliances

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Question;Prepare a partial balance sheet as of June 30, 2009Jenkins, inc., which sells household appliances, begins its fiscal year on June 1. A partial balance sheet for jenkins is given next.Jenkins, Inc.Partial Balance SheetMay 31, 2009Account Receivable $35,000Allowance for Uncollectible Account (3,500)Net Realizable Value $31,500The following transactions took place during June 2009.June 1 Cash sales for the day totaled $5,100June 4 Sold $2,000 of merchandise to another appliance retailer,JLK Company, with terms of 2/10, n/30.June 6 sold $300 of merchandise to Jae Lee, terms n/20.June 8 wrote off an uncollectible account receivable from W5 Corp. Of $450.June 12 JLK Company returned $500 of the merchandise purchased on June 4Because the merchandise was defective.June 14 JLK Company paid Jenkins the amount due for the June 4 transaction.June 20 sold $950 of merchandise to Larissa Rodriguez with terms of n/20.June 26 Received payment from Jae Lee for merchandise sold to him on June 6.June 29 Received a check for $450 from W5 Corp. Whose account balance had beenWritten off on June 8.Require to put this information into a balance sheet

 

Paper#43613 | Written in 18-Jul-2015

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