cons Chart of Accounts T-Accounts Journal Final Questions Instructions The following transactions were completed by the Company during the current riscal year ended December 31: Feb. 8 May 27 Aug 13 OL 31 Received 40% of the $18,500 balance owed by Decoy Co, a bankrupt business, and wrote off the remainder as uncollectible Reinstated the account of Seth Nelser, which had been written off in the preceding year as uncollectible journaled the receipt of $7.430 cash in full payment of Seni's account Wrole of the $,470 balance owed by Kat Tracks Co., which has no es Reinstated the account of Crawford Co., which had been written off in the preceding year as uncollectible. Journalized the receipt of $3,870 cash in vl payment of the account Wrole of the following accounts as collectible compound entry: Newbouer Co. 57,245, Bonneville Co. $5,595Crow Distributors. $9.500, Fiber Optics, $1,000 Based on an analysis of the 51.769.500 of accounts receivable. Ik was estimated that $35.390 will be uncollectible. Journalized the adjusting entry Dec 31 Dec. 31 1. Record the January 1 credit balance of $25.330 in a T-account for Allowance for Doubt Account 2. A Joumalize the transactions. Refer to the Chart of Accounts for exact wording of account titles 8. Posteach entry that affects the following selected accounts and determine the new balances: Allowance for Doubt Accounts and Bad Debt Expense 3. Determine the expected netrable of the coas receivable as of December 31 (after all of the adjustments and the adjusting entry 4. Assuming that instead of basing the provision for uncollect lysis of receivables the adjusting entry on December 31 had ructions T-Accounts Shaded cells have feedback. X 1. Record the January 1 credit balance of $25,330 in a T-account for Allowance for Doubtful Accounts. 2. B. Post each entry that affects the following selected T-accounts and determine the new balances: Allowance for Doubtful Accounts and Bad Debt Expense Allowance for Doubtful Accounts Jan. 1 Balance Dec. 31 Adj. Balance Bad Debt Expense THT-Accounts Journal Allowance for Doubtful Accounts Shaded cells have feedback Shaded shaved Cash 7450.00 6,470.00 Accounts Receivable Fiber Optics Allowance for Doubtful Accounts Aug 13 6,470.00 3,870.00 Accounts Receivable 5,870.00 3,870.00 3,870.00 23,400.00 2.245.00 5,595.00 9,500.00 1,060.00 25,530.00 11,300.00 40,970.00 4140.00 F estions 3. Determine the expected retrea t of the C r eate as of December 31(eral of the auments and the adjusting entry Shaded cells have feedback 1,727,565 X Points: 0/1 Feedback Check My Work Remember ther e is the amount that is expected to be collected 4. Assuming that instead of basing the provision for collectible accounts on an analysis of of of of the net sales of $18.430,000 for the year determine the following eausting enty on December 31 had been based on an estimated experise A. Bad debt expense for the years B Balance in the allowance account her the adjustment of December 31,5 0/1 Points C. Expected netrable value of the accounts receivable as of December 31