Chart of Accounts Assignment

Chart of Accounts Journal Instructions Quantum Solutions Company, a computer consulting firm, has decided to write of the 533,550 balance of an account owned by a customer, Alliance Inc Required: On March 1, journalize the entry to record the write-off assuming that (a) the direction of method is used and (b) the allowance method is used. Refer to the Chart of Accounts for exact wording of accounts CHART OF ACCOUNTS Quantum Solutions Company General Ledger ASSETS REVENUE 410 Sales 610 Interest Revenue 110 Cash 111 Petty Cash 121 Accounts Receivable-Alliance Inc. 129 Allowance for Doubtful Accounts 131 Interest Receivable 132 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Store Equipment 192 Accumulated Depreciation Store Equipment 193 Office Equipment

EXPENSES 510 Cost of Merchandise Sold 520 Sales Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Store Equipment 523 Delivery Expense 524 Repairs Expense 529 Selling Expenses 530 Office Salaries Expense 531 Rent Expense 532 Depreciation Expense-Office Equipment 533 Insurance Expense 534 Office Supplies Expense 535 Store Supplies Expense 536 Credit Card Expense 537 Cash Short and Over 538 Bad Debt Expense 194 Accumulated Depreciation Office Equipment LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable Om Lapelse-Ulice Equip 194 Accumulated Depreciation Office Equipment LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 533 Insurance Expense 534 Office Supplies Expense 535 Store Supplies Expense 536 Credit Card Expense 537 Cash Short and Over 538 Bad Debt Expense 539 Miscellaneous Expense 215 Notes Payable 710 Interest Expense EQUITY 310 Owner, Capital 311 Owner, Drawing 312 Income Summary (On March 1, journalize the entry to record the write-off assuming that the first w o methods used. Refer to the Chart of Accounts for exact wording of accounts JOURNAL ACCOUNTING EQUATION CREDIT LIABILITIES EQUITY On March 1, pumalize the entry to record the write-off, assuming that all those used. Refer to the Chart of Accounts for exact wording of account JOURNAL DESCRIPTION POST REF ACCOUNTING EQUATION LAGUNES QUALITY.