19 Exercise 13.7 (Algo) Journalizing reversing entries. LO 13-7 0.62 points 20X1 (Adjustment a) Dec. 31 Uncollectible accounts expense Debit Credit 2,904.00 Allowance for doubtful accounts 2,904.00 eBook To record estimated loss from uncollectible accounts based on 0.4% of net credit sales, $726,000 (Adjustment b) Hint 31 Supplies expense Supplies 4,800.00 4,800.00 To record supplies used during the year Print (Adjustment c) 1,380.00 Prepaid insurance 1,380.00 References 31 Insurance expense To record expired insurance on 1- year $5,520 policy purchased on Oct. 1 (Adjustment d) 31 Depreciation. exp.-Store equipment Accum. depreciation-Store equip. To record depreciation (Adjustment e) To record accrued salaries for Dec. 29-31 31 Salaries expense-office Salaries payable (Adjustment f) 31 Payroll taxes expense Social security tax payable Medicare tax payable To record accrued payroll taxes on accrued salaries: social security, 6.2% x 2,900 = $179.80; Medicare, 1.45% x 2,900 = $42.05 (Adjustment g) 14,400.00 14,400.00 2,900.00 2,900.00 221.85 179.80 42.05 31 Interest expense 315.00 Interest payable 315.00 To record accrued interest on a 4- month, 6% trade note payable dated. Oct. 1: $21,000 0.06 3/12 = $315.00 (Adjustment h) 31 Interest receivable Interest income To record interest earned on 9- 1: $8,700 x 0.08 6/12 = $348.00 month, 8% note receivable dated July 348.00 348.00 Examine the above adjusting entries and determine which ones should be reversed. Show the reversing entries that should be recorded in the general journal as of January 1, 20X2. (Record the entries in the order given. Round your answers to 2 decimal places.) View transaction list Journal entry worksheet < 1 2 3 4 Record the first reversing entry required. Note: Enter debits before credits. Date Jan 01, 20X2 General Journal Debit Credit Record entry View general journal Clear entry >