adjusting entry. P9-3A The Generation Employment Agency started business on January 1, 2023. The com pany produced monthly financial statements and had total sales of $525,000 (of which $400,000 was on account) during the first 4 months. On April 30, Accounts Receivable had a balance of $236,400 (no accounts have been written off to date), which was made up of the following accounts aged according to the date of the sale: 1 2 Customer 3 Golden Distributors 4 PG Courier 5 Personnel Solutions 6 Natures Design 7 Other Accounts Receivable 8 21 24 A 26 31 B January $ 3,600 1,000 5,000 2,000 23,760 $35,360 C D Month of Sale The following accounts receivable transactions took place in May 2023: May 12 15 February $ 1,000 1,200 14,000 7,400 16,360 $39,960 March $ 2,000 3,400 8,000 8,120 53,480 $75,000 Age of Accounts Receivable From current month From prior month From 2 months prior From 3 months prior From 4 months prior 1 Decided the PG Courier account was uncollectible and wrote it off. Collected $6,600 from Golden Distributors for sales made in the first 3 months. E April $ 1,800 2,400 4,000 28,400 49,480 $86,080 Decided the Personnel Solutions account was uncollectible and wrote it off. Collected $2,000 from Natures Design for sales made in the month of January. Received a cheque from Personnel Solutions for $18,200 plus four cheques of $3,200 each, postdated to June 26, July 26, August 26, and September 26. The amount received was applied to balances owing from January and a portion of February. 3% 4 10 20 45. Bld exp d To AIR. Total sales in the month were $380,000; 90 percent of these were on account, and 75 percent of the sales on account were collected in the month. (Round your total estimate to the nearest whole dollar.) b. Journalize the transactions of May 2023. Required many of these 1. The Generation Employment Agency has heard that other companies in the indus- try use the allowance method of accounting for uncollectibles, with estimating the uncollectibles through an aging of accounts receivable. a. Journalize the adjustments that would have to be made on April 30 (for the months of January through April), assuming the following estimates of uncollectibles: Percent Estimated Uncollectible c. Journalize the month-end adjustment, using the information from the table th appears in Requirement la.

P9-3A The Ceneration Employment Agency started business on lanuary 1, 2023. The coenpany produced monthly financial statements and had total sales of 5525,000 (of which pany produced monthly financial statements and $00,000 was on account) during the first 4 months. On April 30, Accounts Receivable had a balance of 5236,400 (no accounts have been written off to date), which was made up of the following accounts aged according to the date of the sale: The following accounts receivable transactions took place in May 2023: May 12 Decided the PG Courier account was uncollectible and wrote it off. 15 Collected $6,600 from Golden Distributots for sales made in the first 3 months. 21 Decided the Personnel Solutions account was uncollectible and wrote it off. 24 Collected $2,000 from Natures Design for sales made in the month of January. 26 Received a cheque from Personnel Solutions for $18,200 plus four cheques of $3,200 each, postdated to June 26 , July 26 , August 26 , and September 26 . The amount received was applied to balances owing from January and a portion of February. 31 Total sales in the month were $380,000;90 percent of these were on account, and 75 percent of the sales on account were collected in the month. Required 1. The Generation Employment Agency has heard that other companies in the industry use the allowance method of accounting for uncollectibles, with many of these estimating the uncollectibles through an aging of accounts receivable. a. Joumalize the adjustments that would have to be made on April 30 (for the months of Tanisarv through April), assuming the following estimates of uncollectibles: (Round your total estimate to the nearest whole couar.) b. Journalize the transactions of May 2023. c. Journalize the month-end adjustment, using the information from the table th appears in Requirement 1a. P9-3A The Ceneration Employment Agency started business on lanuary 1, 2023. The coenpany produced monthly financial statements and had total sales of 5525,000 (of which pany produced monthly financial statements and $00,000 was on account) during the first 4 months. On April 30, Accounts Receivable had a balance of 5236,400 (no accounts have been written off to date), which was made up of the following accounts aged according to the date of the sale: The following accounts receivable transactions took place in May 2023: May 12 Decided the PG Courier account was uncollectible and wrote it off. 15 Collected $6,600 from Golden Distributots for sales made in the first 3 months. 21 Decided the Personnel Solutions account was uncollectible and wrote it off. 24 Collected $2,000 from Natures Design for sales made in the month of January. 26 Received a cheque from Personnel Solutions for $18,200 plus four cheques of $3,200 each, postdated to June 26 , July 26 , August 26 , and September 26 . The amount received was applied to balances owing from January and a portion of February. 31 Total sales in the month were $380,000;90 percent of these were on account, and 75 percent of the sales on account were collected in the month. Required 1. The Generation Employment Agency has heard that other companies in the industry use the allowance method of accounting for uncollectibles, with many of these estimating the uncollectibles through an aging of accounts receivable. a. Joumalize the adjustments that would have to be made on April 30 (for the months of Tanisarv through April), assuming the following estimates of uncollectibles: (Round your total estimate to the nearest whole couar.) b. Journalize the transactions of May 2023. c. Journalize the month-end adjustment, using the information from the table th appears in Requirement 1a