company produces monthly financial statements and had total sales of $680,000 (of which $646,000 were on ace e of $213 300 (no accounts have been written off to date), which was made up of the following accounts aged ac X More Info bl pl Customer JI le Tyrone's Trucks Vaquez Ltd. Leo Withers Marty White Other Accounts Receivable Month of Service: March April May June $ 3,200 $ 1,350 $ 1,900 $ 1,850 2.300 1,800 2,050 4,600 7.700 4,800 9,168 8.350 6,500 3,468 13,000 16,200 12,464 23,370 31,086 58,144 w $ 32,164 $ 34,788 $ 57 204 $ 89.144 Print Done s and then continue to the next question of $213,300 (no accounts have been written off to date), which was made up of the following accounts age le table.) - X More Info 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. Print Done Required 2 a S. ble 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 following estimates of uncollectibles: ot ard Ja Age of Accounts Receivable Estimated Percent Uncollectible From current month 2% From prior month 31 From two months prior 7 From three months prior 25 From four months prior 50 (Round your total estimate to the nearest whole dollar.) b. Journalize the transactions of July 2020. c. Journalize the month-end adjustment, using the table that appears in requirement 1a 2. For the method of accounting for the uncollectibles used above, show: a. The balance sheet presentation of the accounts receivable. b. The overall effect of the uncollectibles on the income statement for the months of June and July 2020, ng Print Done rule 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 5213.300 (no accounts have been writion of te 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.) Requirement 1. Bruke Sanies in hart heard that other companies in the nonly use the allowanca method of accounting it uncollection with many of these estimating the uncollectibles through an aping of account receivable 2. Journalize the adjustments that would have to be made on June 30 (for the month of March ooh no assuming the time of uncollectibles peovided (Record labe first, then creditExclude plantene om journal entries. Round all calculations to the nearest whole dollar General Journal Accounts 10 Bad Ost Expense Allowance for Douth Account Date Dubit 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 company produces monthly financial statements and had total sales of $680,000 (of which $646,000 were on ace e of $213 300 (no accounts have been written off to date), which was made up of the following accounts aged ac X More Info bl pl Customer JI le Tyrone's Trucks Vaquez Ltd. Leo Withers Marty White Other Accounts Receivable Month of Service: March April May June $ 3,200 $ 1,350 $ 1,900 $ 1,850 2.300 1,800 2,050 4,600 7.700 4,800 9,168 8.350 6,500 3,468 13,000 16,200 12,464 23,370 31,086 58,144 w $ 32,164 $ 34,788 $ 57 204 $ 89.144 Print Done s and then continue to the next question of $213,300 (no accounts have been written off to date), which was made up of the following accounts age le table.) - X More Info 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. Print Done Required 2 a S. ble 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 following estimates of uncollectibles: ot ard Ja Age of Accounts Receivable Estimated Percent Uncollectible From current month 2% From prior month 31 From two months prior 7 From three months prior 25 From four months prior 50 (Round your total estimate to the nearest whole dollar.) b. Journalize the transactions of July 2020. c. Journalize the month-end adjustment, using the table that appears in requirement 1a 2. For the method of accounting for the uncollectibles used above, show: a. The balance sheet presentation of the accounts receivable. b. The overall effect of the uncollectibles on the income statement for the months of June and July 2020, ng Print Done rule 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 5213.300 (no accounts have been writion of te 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.) Requirement 1. Bruke Sanies in hart heard that other companies in the nonly use the allowanca method of accounting it uncollection with many of these estimating the uncollectibles through an aping of account receivable 2. Journalize the adjustments that would have to be made on June 30 (for the month of March ooh no assuming the time of uncollectibles peovided (Record labe first, then creditExclude plantene om journal entries. Round all calculations to the nearest whole dollar General Journal Accounts 10 Bad Ost Expense Allowance for Douth Account Date Dubit 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