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Can you complete Part a , b , and c Exercise 5-10A (Algo) Accounting for uncollectible accounts: Use of an aging schedule LO 5-2 and
Can you complete Part a b and c
Exercise 5-10A (Algo) Accounting for uncollectible accounts: Use of an aging schedule LO 5-2 and LO 5- 3 Roth Service Company experienced the following transactions for Year 1, its first year of operations: 1. Provided $86,000 of services on account. 2. Collected $55,800 cash from accounts receivable. 3. Paid $32,000 of salaries expense for the year. 4. Roth adjusted the accounts using the following information from an accounts receivable aging schedule: $15 , 0.01 o. 05 Number of Days Past Due Amount Percent Likely to Be Uncol lectible At lowance Balance Current e to 30 31 to 6 61 to g Over 90 days Required 6, 1,800 a. Organize the transaction data in accounts under an accounting equation. b. Prepare an income statement for Roth Service Company for Year 1. c. What is the net realizable value of the accounts receivable at December 31, Year 1? Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required C Organize the transaction data in accounts under an accounting equation. Note: Enter any decreases to account balances with a minus sign. Leave cells blank if no input is needed. 0TH SERVICE COM Accounting Equation for Year 1 Account Titles for Retained Earnings 2. 3. 4. Balance Cash 55,800 e (32,000) e + 23,800 Net Realizable Value of Accounts 86,000 e = (55,800) e = 30,200 Liabilities Stockholders' Equity Retained Earnings 86,000 (32,000) e 54,000
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