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4. The Accounts receivable balance for Turning Leaves Furniture Restoration at December 31, 2010, was $15,000. During 2011, Turning Leaves completed the following transactions: a.
4. The Accounts receivable balance for Turning Leaves Furniture Restoration at December 31, 2010, was $15,000. During 2011, Turning Leaves completed the following transactions:
a. Sales revenue on account, $422, 000 (ignore cost of goods sold)
b. Collections on account, $422, 000
c. Write offs of uncollectibles, $6,000
d. Uncollectible account expens, 3% of sales revenue
Requirement
R1. Journalize Turning's 2011 transactions.
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