39. 40. 41. 42. of June. Our CPA has informed us to estimate that 2.00% of Computer & Consulting Revenue will be uncollectable. Based on the information on the "Bank Reconciliation" sheet prepare the journal entry required to increases cash. Based on the information on the "Bank Reconciliation" sheet prepare the journal entry required to decreases cash. Income taxes are to be computed at the rate of 25 percent of net income before taxes. IMPORTANT NOTE: Since the income taxes are a percent of the net income you will want to prepare the Income Statements through the Net Income Before Tax line. The worksheet contains all of the accounts and their balances which you can then transfer to the appropriate financial statement. Closing Entries 43. Close the revenue accounts. 44. Close the expense accounts. 45. 46. Close the income summary account. Close the dividends account. +