Credit $ 3, 4ee Accounts Debit Cash $ 26,500 Accounts Receivable 14,900 Allowance for Uncollectible Accounts Supplies 3,800 Notes Receivable (6%, due in 2 years) 17, eee Land 80,200 Accounts Payable Common Stock Retained Earnings Totals $142,400 8,300 97,000 33,700 $142,400 During January 2021, the following transactions occur January 2 Provide services to customers for cash, $48, 100. January 6 provide services to customers on account, 585,400. January 15 write off accounts receivable as uncollectible, $3,100. January 20 Pay cash for salaries, $32,700. January 22 Receive cash on accounts receivable, $83,000. January 25 Pay cash on accounts payable, $6,see. January 30 Pay cash for utilities during January, $15,000. The following information is available on January 31, 2021. a. The company estimates future uncollectible accounts. The company determines $4,200 of accounts receivable on January 31 are past due, and 20% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 5% of these accounts are estimated to be uncollectible. (Hint: Use the January 31 accounts receivable balance calculated in the general ledger.) b. Supplies at the end of January total $900. c. Accrued interest revenue on notes receivable for January, Interest is expected to be received each December 31 d. Unpaid salaries at the end of January are $34,800. Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Unadjusted General Ledger Account Accounts Receivable No. Debit Credit No. Debit Credit Balance Date Jan 01, 2021 Balance 28,500 Date Jan 01, 2021 14,000 Notes Receivable No. Allowance for Uncollectible Accounts Date Debit Credit Jan 01, 2021 No. Debit Credit Balance 3,400 Date Jan 01, 2021 Balance 17.000 Supplies Land No. Debit Credit No. Debit Credit Date Jan 01, 2021 Balance 3.800 Date Jan 01, 2021 Balance 80,200 Accounts Payable Common Stock No. Date Debit Credit No. Debit Credit Balance 8,300 Date Jan 01, 2021 Balance 97.000 Jan 01, 2021 Retained Earnings No. Debit Credit Date Jan 01, 2021 Balance 33.700 General General Requirement Joumal Income Ledger Trial Balance Statement Balance Sheet Analysis Notice the dropdown below that gives the options to select the unadjusted, adjusted or post-closing trial balance. The option you choose will be the values used to populate the income statement and balance sheet tabs. Unadjusted 3D Family Fireworks Trial Balance January 30, 2021 Account Title Debit Credit Cash 20.500 Accounts Receivable 14.000 Allowance for Uncollectible Accounts 3.400 Notes Receivable 17,000 3,800 Supplies 80.200 Land 8,300 Accounts Payable 07.000 Common Stock 33,700 Retained Earnings 142.400 142,400 Total Unadjusted 3D Family Fireworks Income Statement For Month Ended January 31, 2021 Revenue: Total Revenue Expenses: Total Expenses { Trial Balance Balance Sht> Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Choose the appropriate accounts to complete the company's balance sheet. Make sure to select 'adjusted' from the dropdown, which will then populate the balances in those accounts from the adjusted trial balance. Unadjusted 3D Family Fireworks Balance Sheet January 31, 2021 Assets Liabilities Current Assets: Current Liabilities: Total Current Liabilities Total Current Assets Total Liabilities Stockholders' Equity Long-term assets: Total Stockholders' Equity Total Liabilities & Stockholders Equity Total Assets Income Statement Analysis > Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Enter your Accounts Receivable turnover value in 1 decimal place and Ratio of Allowance for Uncollectible Accounts in Whole number. Analyze how well 3D Family Firewories manages bs receivables (a) Calculate the receivables turnover ratio for the month of January (Hint: For the numerator, use total services provided to customers on account). If the industry average of the receivables turnover ratios for the month of January is 4.6 times, is the company collecting cash from customers more or less efficiently than other companies in the same industry? Accounts Receivable turnover times The company is collecting more efficiently (true or false) (b) Calculate the ratio of Allowance for Unco lectible Accounts to Accounts Receivable at the end of January. Based on a comparison of this ratio to the same ratio at the beginning of January, does the company expect an improvement or worsening in cash collections from customers on credit sales? Ratio of Allowance for Uncollecbble Accounts to Accounts Receivable Should the company expect improving or worsening conditions?