Prior to recording the following, elite electronics, inc. had a credit balance of $1,500 in its allowance for doubtful accounts.

required:
prepare journal entries for each transaction. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)

a. on august 31, a customer balance for $250 from a prior year was determined to be uncollectible and was written off.

b. on december 15, the customer balance for $250 written off on august 31 was collected in full.

journal entry worksheet

record the write-off of a certain customer account from a prior year which is not collectible totaling $250.

The east asiatic company (eac), a danish company with subsidiaries throughout asia, has been funding its bangkok subsidiary primarily with u.s. dollar debt because of the cost and availability of dollar capital as opposed to thai baht-denominated (b) debt. the treasurer of eac-thailand is considering a 1-year bank loan for $247,000.the current spot rate is b32.03 /$, and the dollar-based interest is 6.78% for the 1-year period. 1-year loans are 12.04% in baht.a. assuming expected inflation rates of 4.3 % and 1.24% in thailand and the united states, respectively, for the coming year, according to purchase power parity, what would the effective cost of funds be in thai baht terms? b. if eac's foreign exchange advisers believe strongly that the thai government wants to push the value of the baht down against the dollar by5% over the coming year (to promote its export competitiveness in dollar markets), what might the effective cost of funds end up being in baht terms? c. if eac could borrow thai baht at 13% per annum, would this be cheaper than either part (a) or part (b) above?