Business, 14.10.2019 02:20 swaise3300

Probuilder has the following june 30, 2016, fiscal-year-end unadjusted balances: allowance for sales discounts, $0; and accounts receivable, $10,900. of the $10,900 of receivables, $2,450 are within a 2% discount period, meaning that it expects buyers to take $49 in future discounts arising from this period’s sales
a. prepare the june 30, 2016, fiscal-year-end adjusting journal entry for future sales discounts.
b. assume the same facts above and that there is a $10 fiscal-year-end unadjusted credit balance in the allowance for sales discounts. prepare the june 30, 2016, fiscal-year-end adjusting journal entry for future sales discounts

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Probuilder has the following june 30, 2016, fiscal-year-end unadjusted balances: allowance for sale...