Accounts	Debit			Credit
Cash	$	60,400
Accounts Receivable		28,400
Inventory		38,000
Notes Receivable (5%, due in 2 years)		32,400
Land		172,000
Allowance for Uncollectible Accounts					3,900
Accounts Payable					16,500
Common Stock					237,000
Retained Earning					73,800
Totals	$	331,200		$	331,200

2. At the end of January, $4,700 of accounts receivable are past due, and the company estimates that 50% of these accounts will not be collected. Of the remaining accounts receivable, the company estimates that 3% will not be collected. The note receivable of $32,400 is considered fully collectible and therefore is not included in the estimate of uncollectible accounts.

General Journal	Debit	Credit
1	January 31	Bad debt expense	?
1		Allowance for uncollectible accounts	?
calculate bad debt expense and allowance for uncollectible accounts