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PT Stone have a several list of customer with outstandin receivables in the year of 2018. Please see below the receivables detail at the end of the year 2018: Customer Days of Outstanding Outstanding Amount PT Twins 40 days IDR 24,000,000 Anchor Corp 31 days IDR 51,000,000 PT Bell  60 days IDR 89,000,000 PT Scott 180 days IDR 160,000,000 PT Stone company policy for allowance of uncollectible receivable allocation are as follow: 0-30 days, 10% 31-50 days , 20% 51 – 100 days, 40% > 100 days 90% Additional Information The balance of Allowance for Doutbul Account at the begininng of the year 2018 is IDR 6,300,000 in the debit Instruction a. Prepare the journal for allowance of uncollectiobel account for the year 2018 (Supported with the calculation) b. At the Feb 28 2019, PT Scott declare their inabillity to fulfill their obligation for theie payables. Prepare the journal for wirte off of the PT scott receivable! c. At the june 30 2019, PT Scott declare that they have succeed with the liqudation process and able to paytheir to obligation to PT Stone with amount of IDR 40,000,000. Prepate the journal for the recovery and receipt of the PT Scott payment

- October 10, 2022 - Edwin Tunner

PT Stone have a several list of customer with outstandin receivables in the year of 2018. Please see below the receivables detail at the end of the year 2018:

Customer Days of Outstanding Outstanding Amount
PT Twins 40 days IDR 24,000,000
Anchor Corp 31 days IDR 51,000,000
PT Bell  60 days IDR 89,000,000
PT Scott 180 days IDR 160,000,000

PT Stone company policy for allowance of uncollectible receivable allocation are as follow:

0-30 days, 10%

31-50 days , 20%

51 – 100 days, 40%

> 100 days 90%

Additional Information

The balance of Allowance for Doutbul Account at the begininng of the year 2018 is IDR 6,300,000 in the debit

Instruction

a. Prepare the journal for allowance of uncollectiobel account for the year 2018 (Supported with the calculation)

b. At the Feb 28 2019, PT Scott declare their inabillity to fulfill their obligation for theie payables. Prepare the journal for wirte off of the PT scott receivable!

c. At the june 30 2019, PT Scott declare that they have succeed with the liqudation process and able to paytheir to obligation to PT Stone with amount of IDR 40,000,000. Prepate the journal for the recovery and receipt of the PT Scott payment

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