ACCT216 Week 3 Homework 1.Classify the following items as (a) an addition to the bank balance, (b) a subtraction from the bank balance, (c) an addition to the book balance, or (d) a subtraction from the book balance: 2.During 2013, Jimmy Enterprises completed the following transactions: a.Sales revenue on account, $550,000. b.Collections on account, $325,000 c.Write-offs of uncollectibles, $13,000 d.Uncollectible account expense, 5% of sales revenue Required: 1.Prepare the journal entries for the above transactions.
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