Modern Machine Shop (MMS) Inc. manufactures special moulds that are used in the production of plastic toys. Below is MMS’s accounts receivable ledger from October 1 to December 31, current year:
General Ledger Accounts Receivable
Date Explanation Debit Credit Balance
Sept. 30 Balance 12,700
Oct. 8 Wrote off uncollectible accounts. 3,100 9,600
Oct. 15 Sold 10 moulds to Allen Inc. 21,000 30,600
Oct. 31 Sold 15 moulds to Machinex Ltd. 23,500 54,100
Nov. 5 Received the amount due from Machinex for moulds purchased on October 31. 23,500 30,600
Nov. 7 Sold 20 moulds to Centra Corp. 42,000 56,600
Nov. 29 Centra Corp. made a partial payment on the moulds purchased on November 7. 21,000 35,600
Dec. 20 Recovered $2,100 that was written off on October 8. 2,100 2,100 35,600
Additional information is as follows:
MMS sold its special moulds at $2,100 each.
All sales were on credit with terms, n/30.
MMS’s records included the following items and their balances as at September 30, current year:
Net sales $ 260,000
Accounts receivable 12,700
Allowance for doubtful accounts (credit balance) 2,900
Required:
1. Prepare the journal entries to record the transactions on October 8, November 5, and December 20. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)