Showbiz Sportswear completed the following selected transactions during 2008 and 2009: Requirements 1. Open general ledger accounts
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Showbiz Sportswear completed the following selected transactions during 2008 and 2009:
Requirements
1. Open general ledger accounts for Allowance for Uncollectible Accounts and Uncollectible-Account Expense. Keep running balances. All accounts begin with a zero balance.
2. Record the transactions in the general journal, and post to the two ledger accounts.
3. The December 31, 2009, balance of Accounts Receivable is \$164,500. Show how Accounts Receivable would be reported on the balance sheet at that date. Use the first reporting format.
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