Daley company estimates uncollectible accounts using the allowance method at december 31. it prepared the following aging of receivables analysis.

days past due
total 0 1 to 30 31 to 60 61 to 90 over 90
accounts receivable $ 570,000 $ 396,000 $ 90,000 $ 36,000 $ 18,000 $ 30,000
percent uncollectible 1% 2% 5% 7% 10%

a) on february 1 of the next period, the company determined that $6,800 in customer accounts was uncollectible; specifically, $900 for oakley co. and $5,900 for brookes co. prepare the journal entry to write off those two accounts.

b) on june 5 of that next period, the company unexpectedly received a $900 payment on a customer account, oakley company, that had previously been written off in part a. prepare the entries necessary to reinstate the account and to record the cash received.

What is the most important factor that affects the value of a company? a) cash flow b) earnings c) supply and demand d) number of employees

Kiona co. set up a petty cash fund for payments of small amounts. the following transactions involving the petty cash fund occurred in may (the last month of the company's fiscal year). may 1 prepared a company check for $350 to establish the petty cash fund. 15 prepared a company check to replenish the fund for the following expenditures made since may 1. a. paid $109.20 for janitorial services. b. paid $89.15 for miscellaneous expenses. c. paid postage expenses of $60.90. d. paid $80.01 to the county gazette (the local newspaper) for an advertisement. e. counted $26.84 remaining in the petty cashbox. 16 prepared a company check for $200 to increase the fund to $550. 31 the petty cashier reports that $380.27 cash remains in the fund. a company check is drawn to replenish the fund for the following expenditures made since may 15. f. paid postage expenses of $59.10. g. reimbursed the office manager for business mileage, $47.05. h. paid $48.58 to deliver merchandise to a customer, terms fob destination. 31 the company decides that the may 16 increase in the fund was too large. it reduces the fund by $50, leaving a total of $500.

Samantha is interested in setting up her own accounting firm and wants to specialize in the area of accounting that has experienced the most significant growth in recent years. which area of accounting should she choose as her specialty? samantha should choose as her specialty.