B AutoSave CH Assignment#3(Ch45) Word Search Fiza Gang (gargt) EG File Home Insert Design Layout References Mailings Review View Help Share Comments Calibri + 2 T X out In Copy Format Painter Clipboard 12 A A A A BIUX, * A-D-A- Aabbceod Aabbccod Aabba Aabbccc AaB AabbCD ABCD 1 No Spac. Heading 1 Heading 2 Subtitle Subtle Em Peste E Nommal Title Find Replace Select Editing Dictate Sensitivity Editor Fort Paragraph Voog Sensbury Editor L 1.2 1.1.5 1.6 1.7.1. 61.7.1.8.1.9. 110 111 Styles 13.1.111.15 16 17 18 19 -12 Q1. The October 1, 2017, records of First Data Communications include these accounts: Accounts Receivable $230,000 Allowance for Uncollectible Accounts ($4,500) At year end, the company ages its receivables and adjusts the balance in Allowance for Uncollectible Accounts to correspond to the aging schedule. During the last quarter of 2017, the company completed the following selected transactions: 2017 Nov. 30: Wrate off as uncollectible the $1,100 account receivable from Rainbow Carpels and the $600 account receivable from Show-N-Tell Antiques. 2017 Dec 31: One of its customers, Peplar Ltd., agreed to sign a 60 day not receivable to replace the $1,500 accounts receivable due on that day. 2017 Dec 31: Adjusted the Allowance for Uncollectible Accounts, and recorded Bad Debt Expense at year-end, based on the aging of receivables, which follows. Accounts receivable balance Estimated uncollectible 0 - 30 Days 150,000 0.29 Age of Accounts 31-60 Days 61-90 Days 35,000 14,000 0.5% 5.06 Over 90 Days 25,000 30.0% Requirements: 1. Record the transactions in the journal. Explanations are not required. 2. Prepare a l-account for Accounts Receivable and the Allowance for Uncollectible Accounts, and post to those accounts, 3. Show how First Data would report its accounts receivable on a comparative balance sheet for 2016 and 2017. At December 31, 2016, the company's Accounts Receivable balance was $212,000 and the Allowance for Uncollectible Accounts stood at $4,200. T........................................... ------ .............10 Page 1 of 3 786 word: English (Unted States) D. Focus BG 008 Type here to search O AT 4 (0) ENG 12:17 AM 2020-09-21