2. Media Communicationshad the following trial balance at 30 September 2019: Accounts receivable Allowance for doubtful...

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2. Media Communicationshad the following trial balance at 30 September 2019: Accounts receivable Allowance for doubtful accounts Debit($) 242,000 Credit($) 8,400 At year-end (December 31), the company ages its receivables and adjusts the balance in Allowance for Doubtful Accounts to correspond to the following aging schedule: Age of accounts Accounts Receivalbe 1-30days 31-60days $230,000 $132,000 $54,000 Estimated percent uncollectible 0.2% 2% 61-90days $17,000 Over 90days $27,000 15% During the last quarter of 2019, the company completed the following selected transactions: 35% Nov 30, Wrote of as uncollectible the $1,300 account receivable from Blue Carpets and the $400 account receivable from Rare Antiques. Dec 31, Adjusted the Allowance for Doubtful Accounts and recorded doubtful-account expense at year-end, based on the aging of receivables. Requirements (1) Prepare journal entries for these transactions. (6 marks) (2) Show the ledger accounts of allowance for doubtful accounts for the following for the year ended 31 December, 2019. (2 marks) (3) Prepare the report of accounts receivable for 31 December, 2019. (2 marks) 2. Media Communicationshad the following trial balance at 30 September 2019: Accounts receivable Allowance for doubtful accounts Debit($) 242,000 Credit($) 8,400 At year-end (December 31), the company ages its receivables and adjusts the balance in Allowance for Doubtful Accounts to correspond to the following aging schedule: Age of accounts Accounts Receivalbe 1-30days 31-60days $230,000 $132,000 $54,000 Estimated percent uncollectible 0.2% 2% 61-90days $17,000 Over 90days $27,000 15% During the last quarter of 2019, the company completed the following selected transactions: 35% Nov 30, Wrote of as uncollectible the $1,300 account receivable from Blue Carpets and the $400 account receivable from Rare Antiques. Dec 31, Adjusted the Allowance for Doubtful Accounts and recorded doubtful-account expense at year-end, based on the aging of receivables. Requirements (1) Prepare journal entries for these transactions. (6 marks) (2) Show the ledger accounts of allowance for doubtful accounts for the following for the year ended 31 December, 2019. (2 marks) (3) Prepare the report of accounts receivable for 31 December, 2019. (2 marks)