Name Date Class
QuickBooks Guide
Step-by-Step Instructions
Problem 24-6 Writing Off Accounts Under the Allowance Method
INSTRUCTIONS
Begin a Session
Step 1 Restore the Problem [Link] file.
Work the Accounting Problem
Step 2 Review the information provided in your textbook. Remember to use
2015 as the accounting year.
Step 3 Record the transactions to write off the bad debts using the Make
General Journal Entries option.
Step 4 Enter the transactions to reinstate Jimmy Thompson’s account and
record the receipt of payment.
QuickBooks Guide
IMPORTANT: Use the Make General Journal Entries option to
reinstate the account that was previously written off.
Step 5 Record the adjustment for estimated uncollectible accounts.
Step 6 Record the closing entry for Uncollectible Accounts Expense
using the Make General Journal Entries option. (Note: Do not
use the option to close the fiscal year. Manually enter the closing
entry.)
Prepare a Report and Proof Your Work
Step 7 Print the following reports: Journal, Customer Balance Summary, and
General Ledger report.
Step 8 Print a Balance Sheet.
Analyze Your Work
Step 9 Complete the Analyze activity.
End the Session
Step 10 It is recommended that you back up your work for this session.
Copyright © McGraw-Hill Education. All rights reserved.
What is the difference between an A/R Aging Summary
report and an A/R Aging Detail report? Explain your
answer on a separate sheet of paper.
FAQs
Why do some QuickBooks reports not show all of the transactions?
By default, most QuickBooks reports show only those transactions entered in the
current month to date (based on the computer’s system date). If you entered
transactions outside of the current month or over multiple periods, you must
change the report date range. For example, change the date range to include the
entire year.
Chapter 24 ■ 1
43_Problem 24-6 QuickBooks [Link] 1 7/24/15 9:48 AM