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Can you please solve this question and show all your work? Thank you! :) 24 Cash Dois On January 1, 2021, the general ledger of
Can you please solve this question and show all your work? Thank you! :) 24 Cash Dois On January 1, 2021, the general ledger of 3D Family Fireworks Includes the following account balances Accounts Debit Credit 326,00 Accounts Receivable 14,000 Allowance for Uncollectible Accounts Supplies 3,700 Notes Receivable (%, due in 2 years) 16,000 Land 30,100 Accounts Payable 8,100 Common Stock 10.000 Metained Earnings >>, 600 Totals $110,000 $140,000 During January 2021, the following transactions occur January 2 Provide service to customers for cash, 147,100 January 6 Provide services to customers on account. $14.400 January 15 write off accounts receivable as uncollectible, $2,900, January 20 Pay cash for salaries, $32,600 January 22 Receive cash on accounts receivable, $12,000. January 25 Pay cash on accounts payable, 56,700. January 0 Pay cash for utilities during January, $14,900 The following information is available on January 31, 2021 a. The company estimates and records bad debt expense (and adds to the Allowance account through this journal entry at the end of each month. At the end of January, the company determines that determines $4,100 of the total Accounts Receivable account is over 90 days old, with the remaining A/R balance being current (Hint use the A/R balance in the General Ledger Tab), 20% of the AR older than 90 days is estimated to be uncollectible, and 5% of the current balance is estimated to be uncollectible. Please calculate the amount that needs to be added to the Allowance account and Bad Debt Expense and complete the journal entry. (Watch video tutorial on this subject: https://vimeo.com/cdvice/review/254531867/7c9cc2a218) b. Supplies at the end of January total $850. c. Accrued interest revenue on notes receivable for January, Interest is expected to be received each December 31 * Prey 24 of 25 Next > 24 Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Jooml Required in the first account field.) 56 View transaction list points Journal entry worksheet eBook >, 600 Totals $110,000 $140,000 During January 2021, the following transactions occur January 2 Provide service to customers for cash, 147,100 January 6 Provide services to customers on account. $14.400 January 15 write off accounts receivable as uncollectible, $2,900, January 20 Pay cash for salaries, $32,600 January 22 Receive cash on accounts receivable, $12,000. January 25 Pay cash on accounts payable, 56,700. January 0 Pay cash for utilities during January, $14,900 The following information is available on January 31, 2021 a. The company estimates and records bad debt expense (and adds to the Allowance account through this journal entry at the end of each month. At the end of January, the company determines that determines $4,100 of the total Accounts Receivable account is over 90 days old, with the remaining A/R balance being current (Hint use the A/R balance in the General Ledger Tab), 20% of the AR older than 90 days is estimated to be uncollectible, and 5% of the current balance is estimated to be uncollectible. Please calculate the amount that needs to be added to the Allowance account and Bad Debt Expense and complete the journal entry. (Watch video tutorial on this subject: https://vimeo.com/cdvice/review/254531867/7c9cc2a218) b. Supplies at the end of January total $850. c. Accrued interest revenue on notes receivable for January, Interest is expected to be received each December 31 * Prey 24 of 25 Next > 24 Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Jooml Required in the first account field.) 56 View transaction list points Journal entry worksheet eBook
Can you please solve this question and show all your work? Thank you! :)
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