Regents Supply completed the following selected transactions during the year:

Requirements 1. Open T-accounts for Allowance for Uncollectible Accounts and Uncollectible Accounts Expense. These accounts have beginning balances of $1,800 (cr.) and 0, respectively.
2. Record the transactions in the journal, and post to the two ledger accounts; remember to update the account balances but ignore posting references.
3. The December 31 balance of Accounts Receivable is $139,000. Show how Accounts Receivable would be reported on the balance sheet at that date.

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Jan 17 Sold inventory to Abe Gomez, $600, on account. Ignore cost of goods sold. Jun 29 Wrote off the Abe Gomez account as uncollectible after repeated efforts to collect from him. Aug 6 Received $200 from Abe Gomez, along with a letter stating his intention to pay within 30 days. Reinstated his account in full. Sep 4 Dec 31 Dec 31 Received the balance due from Abe Gomez. Made a compound entry to write off the following accounts as uncollectible: Bernard Clark, $700; Marie Montrose, $300; and Terry Forman, $600. Based on an aging of accounts receivable, estimated uncollectible accounts as $2,300.