Brule Services Inc. started business on March 1, 2020. The company produces monthly financial statements and had total sales of $680,000 (of which $646,000 were on account) during the first four months. On June 30, the Accounts Receivable account had a balance of $213,300 (no accounts have been written off to date), which was made up of the following accounts aged according to the date the services were provided: (Click the icon to view the aging-of-accounts-receivable table.) (Click the icon to view the accounts receivable transactions.) Required Requirement 1. Brule Services Inc. has heard that other companies in the industry use the allowance method of accounting for More Info a. Journalize calculations g the es al entries. Round all More Info Month of Service: Date Customer May June Jun. 1,900 $ 1,850 2,050 4,600 The following accounts receivable transactions took place in July 2020 Jul. 12 Determined the account of Vaquez Ltd. was uncollectible and wrote it off. 15 Collected $4,500 from Tyrone's Trucks for services in the first three months. 21 Decided the account of Leo Withers was uncollectible and wrote it off. 24 Collected $6,500 from Marty White for services in the month of March. 26 Received a cheque from Leo Withers for $10,600 plus two cheques, of $9,709 each, postdated to September 10 and November 10. 31 Total sales of service in the month were $174,000; 75 percent of these were on account and 70 percent of the sales on account were collected in the month. Tyrone's Trucks Vaquez Ltd. Leo Withers Marty White March April $ 3,200 $ 1,350 $ 2,300 1,800 7,700 4,800 6,500 3,468 12,464 23,370 9,168 8,350 13,000 31,086 16,200 58,144 b. Journalize Other Accounts Receivable July 12. Dete $ 32,164 $ 34,788 $ 57,204 $ 89,144 Print Done Date Print Done Jul. Choose from any list or enter any number in the input fields and then continue to the next question. Requirement 1. Brule Services Inc. 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. Journalize the adjustments that would have to be made on June 30 (for the months of March through June), assuming the estimates of uncollectibles provided. (Record debits first, then credits. Exclude explanations from journal entries. Round all calculations to the nearest whole dollar.) General Journal Date Accounts Debit Credit Jun 30|||Bad Debt Expense Allowance for Doubtful Accounts b. Journalize the transactions of July 2020 July 12. Determined the account of Vaquez Ltd. was uncollectible and wrote it off. General Journal Date Accounts Debit Credit Jul. July 15. Collected $4,500 from Tyrone's Trucks for services in the first three months. General Journal Date Accounts Debit Credit Jul. July 21. Decided the account of Leo Withers was uncollectible and wrote it off. General Journal Date Accounts Debit Credit Jul. July 24. Collected $6,500 from Marty White for services in the month of March. General Journal Date Accounts Debit Credit Jul. July 26. Received a cheque from Leo Withers for $10,600 plus two cheques, of $9,709 each, postdated to September 10 and November 10. To record the transactions of July 26, begin with the reversal of the write-off for Leo Withers. General Journal Date Accounts Debit Credit Jul. Now, record the receipt of the first cheque. General Journal Date Accounts Debit Credit Jul. July 31. Total sales of service in the month were $174,000, 75 percent of these were on account and 70 percent of the sales on account were collected in the month. Begin by recording the sales for the month of $174,000 General Journal Date Accounts Debit Credit Jul Next, record the credit sales collected in July (Round your answers to the nearest dollar.) General Journal Date Accounts Debit Credit Jul. 31 || Cash 82560 Accounts Receivable 82560 c. Journalize the month-end adjustment, using the table that appears in requirement 1a. (Round interim calculations and your final answer to the nearest whole dollar.) General Journal Date Accounts Debit Credit Jul. 31 Bad Debt Expense Allowance for Doubtful Accounts Requirement 2. For the method of accounting for the uncollectibles used above, show: a. The balance sheet presentation of the accounts receivable. Balance Sheet (Partial): June 30 July 31 Net accounts receivable b. The overall effect of the uncollectibles on the income statement for the months of June and July 2020. Income Statement July 2020 (Partial): Expenses: Brule Services Inc. started business on March 1, 2020. The company produces monthly financial statements and had total sales of $680,000 (of which $646,000 were on account) during the first four months. On June 30, the Accounts Receivable account had a balance of $213,300 (no accounts have been written off to date), which was made up of the following accounts aged according to the date the services were provided: (Click the icon to view the aging-of-accounts-receivable table.) (Click the icon to view the accounts receivable transactions.) Required Requirement 1. Brule Services Inc. has heard that other companies in the industry use the allowance method of accounting for More Info a. Journalize calculations g the es al entries. Round all More Info Month of Service: Date Customer May June Jun. 1,900 $ 1,850 2,050 4,600 The following accounts receivable transactions took place in July 2020 Jul. 12 Determined the account of Vaquez Ltd. was uncollectible and wrote it off. 15 Collected $4,500 from Tyrone's Trucks for services in the first three months. 21 Decided the account of Leo Withers was uncollectible and wrote it off. 24 Collected $6,500 from Marty White for services in the month of March. 26 Received a cheque from Leo Withers for $10,600 plus two cheques, of $9,709 each, postdated to September 10 and November 10. 31 Total sales of service in the month were $174,000; 75 percent of these were on account and 70 percent of the sales on account were collected in the month. Tyrone's Trucks Vaquez Ltd. Leo Withers Marty White March April $ 3,200 $ 1,350 $ 2,300 1,800 7,700 4,800 6,500 3,468 12,464 23,370 9,168 8,350 13,000 31,086 16,200 58,144 b. Journalize Other Accounts Receivable July 12. Dete $ 32,164 $ 34,788 $ 57,204 $ 89,144 Print Done Date Print Done Jul. Choose from any list or enter any number in the input fields and then continue to the next question. Requirement 1. Brule Services Inc. 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. Journalize the adjustments that would have to be made on June 30 (for the months of March through June), assuming the estimates of uncollectibles provided. (Record debits first, then credits. Exclude explanations from journal entries. Round all calculations to the nearest whole dollar.) General Journal Date Accounts Debit Credit Jun 30|||Bad Debt Expense Allowance for Doubtful Accounts b. Journalize the transactions of July 2020 July 12. Determined the account of Vaquez Ltd. was uncollectible and wrote it off. General Journal Date Accounts Debit Credit Jul. July 15. Collected $4,500 from Tyrone's Trucks for services in the first three months. General Journal Date Accounts Debit Credit Jul. July 21. Decided the account of Leo Withers was uncollectible and wrote it off. General Journal Date Accounts Debit Credit Jul. July 24. Collected $6,500 from Marty White for services in the month of March. General Journal Date Accounts Debit Credit Jul. July 26. Received a cheque from Leo Withers for $10,600 plus two cheques, of $9,709 each, postdated to September 10 and November 10. To record the transactions of July 26, begin with the reversal of the write-off for Leo Withers. General Journal Date Accounts Debit Credit Jul. Now, record the receipt of the first cheque. General Journal Date Accounts Debit Credit Jul. July 31. Total sales of service in the month were $174,000, 75 percent of these were on account and 70 percent of the sales on account were collected in the month. Begin by recording the sales for the month of $174,000 General Journal Date Accounts Debit Credit Jul Next, record the credit sales collected in July (Round your answers to the nearest dollar.) General Journal Date Accounts Debit Credit Jul. 31 || Cash 82560 Accounts Receivable 82560 c. Journalize the month-end adjustment, using the table that appears in requirement 1a. (Round interim calculations and your final answer to the nearest whole dollar.) General Journal Date Accounts Debit Credit Jul. 31 Bad Debt Expense Allowance for Doubtful Accounts Requirement 2. For the method of accounting for the uncollectibles used above, show: a. The balance sheet presentation of the accounts receivable. Balance Sheet (Partial): June 30 July 31 Net accounts receivable b. The overall effect of the uncollectibles on the income statement for the months of June and July 2020. Income Statement July 2020 (Partial): Expenses