A custom furniture company made credit sales of $1,300,000 in 20x1 to 3,500 customers: Duncan, $12,000; Chorey. $11,000; others, $1.277,000. Total collections during 20X1 were $640,000 including $10,000 from Chorey, but nothing was collected from Duncan. At the end of 20X1, an allowance for uncollectible accounts was provided of 6% of credit sales. 20x1 is the company's first year of operations. Requirements 1. Post the entries for 20x1 to the general ledger and subsidiary ledger accounts. Prepare a statement of the ending balances of the individual accounts receivable to show that they reconcile with the general ledger account. 2. On March 24, 20X2, the Duncan account was written off. Give the journal entry Requirement 1. Post the entries for 20x1 to the general ledger and subsidiary ledger accounts. Prepare a statement of the ending balances of the individual accounts receivable to show that they reconcile with the general ledger account. Begin by posting the entries for 20x1 to the general ledger and subsidiary ledger accounts, and then calculate the balance of each account at the end of 20X1. General Ledger Accounts Receivable Bal. Bal Allowance for Uncollectible Accounts Bal. Bal. Bad Debt Expense Bal. Bal. Accounts Receivable Subsidiary Ledger Duncan Bal. Bal. Chorey Bal. Bal. Others Bal. Bal. Bal. Bal. Prepare a statement of the ending balances of the individual accounts receivable to show that they reconcile with the general ledger account. Accounts Receivable at December 31, 20X1 Duncan Chorey Others Total Requirement 2. On March 24, 20X2, the Duncan account was written off. Give the journal entry. (Record debits first, then credits. Explanations are not required.) Date Accounts Debit Credit Mar 24 Next A custom furniture company made credit sales of $1,300,000 in 20x1 to 3,500 customers: Duncan, $12,000; Chorey. $11,000; others, $1.277,000. Total collections during 20X1 were $640,000 including $10,000 from Chorey, but nothing was collected from Duncan. At the end of 20X1, an allowance for uncollectible accounts was provided of 6% of credit sales. 20x1 is the company's first year of operations. Requirements 1. Post the entries for 20x1 to the general ledger and subsidiary ledger accounts. Prepare a statement of the ending balances of the individual accounts receivable to show that they reconcile with the general ledger account. 2. On March 24, 20X2, the Duncan account was written off. Give the journal entry Requirement 1. Post the entries for 20x1 to the general ledger and subsidiary ledger accounts. Prepare a statement of the ending balances of the individual accounts receivable to show that they reconcile with the general ledger account. Begin by posting the entries for 20x1 to the general ledger and subsidiary ledger accounts, and then calculate the balance of each account at the end of 20X1. General Ledger Accounts Receivable Bal. Bal Allowance for Uncollectible Accounts Bal. Bal. Bad Debt Expense Bal. Bal. Accounts Receivable Subsidiary Ledger Duncan Bal. Bal. Chorey Bal. Bal. Others Bal. Bal. Bal. Bal. Prepare a statement of the ending balances of the individual accounts receivable to show that they reconcile with the general ledger account. Accounts Receivable at December 31, 20X1 Duncan Chorey Others Total Requirement 2. On March 24, 20X2, the Duncan account was written off. Give the journal entry. (Record debits first, then credits. Explanations are not required.) Date Accounts Debit Credit Mar 24 Next