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Morgan???? (or any accounting people)

who's talking here?

morgan 1
~Monkey Manners~ 3

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~Monkey Manners~ --- 182 days ago -

GAH Answer this: Let's say we make an adjusting entry of $300 we CR Uncollectible Account Expense and we DR Allowance for Uncollectibles Our AR acct had a DR Balance of 3000 to begin with and after making the adjusting entry it says the AR account now has a 2700 DR Balance.. HOW? If you haven't actually made an entry to AR how in the world does that AJE make AR different? WAAAAAAAAHHHHHHHHHHHH 

morgan --- 182 days ago -

AJE are tied to all accounts. If you are running a program or doing a lab in a situation like this - when you make a AJE the amount will be reflected in the same in AR or what ever account it belongs to. Now remember there are 2 methods to record uncollectible accounts, Direct write-off method and Allowance method. Most use the Allowance method because the other will not work with the matching principle. If you let me know the ISBN number to your book I can help you better like that. I can sometimes find the answers on other teachers websites if they are using the same book. 

~Monkey Manners~ --- 182 days ago -

Now remember there are 2 methods to record uncollectible accounts, Direct write-off method and Allowance method. Most use the Allowance method because the other will not work with the matching principle. ok, I totally got that part when I was reading yesterday. AJE are tied to all accounts. If you are running a program or doing a lab in a situation like this - when you make a AJE the amount will be reflected in the same in AR or what ever account it belongs to. this however still doesn't click lol If my AJE are to 2 other accounts how can the balance in the AR Acct be changed from those entries? (I haven't finished reading the chapter so it may become more evident as I read on.) 

~Monkey Manners~ --- 182 days ago -

oh, and there are 2 ISBN numbers ISBN-13 978-0-13-504574-9 ISBN-10 0-13-504574-6 

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