Credit Debit $ 23,800 48,000 $ 4,800 10,600 36,000 98,000 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Supplies Notes Receivable (8%, due in 2 years) Land Accounts Payable Common Stock Retained Earnings Service Revenue Salaries Expense Utilities Expense Supplies Expense Totals 14,900 158,000 31, 200 127,400 72,200 28, 100 19,600 $336,300 $336, 300 In addition, the following transactions occurred during 2021 and are not yet reflected in the account balances above: June 3 Provide additional services on account for $20,000. All services on account include terms 2/10, n/30. June 8 Receive cash from customers within 10 days of the services being provided on account. The customers were originally charged $11,500. November 15 Write off customer accounts of $6,700 as uncollectible. The following information is available on December 31. a. Estimate that 10% of the balance of accounts receivable (after the transactions listed above) will not be collected. b. Accrue interest on the note receivable of $36,000, which was accepted on October 1, 2021. Interest is due each September 30. C 3 4 5 6 7 Record the closure of expense accounts. ote: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2021 Retained Earnings Utilities Expense Supplies Expense Bad Debt Expense Salaries Expense 28,100 19,600 6,880 72,200 Analysis Balance Sheet General Journal Income Statement Trial Balance General Ledger Requirement Using the information from the requirements in the previous tabs, complete the 'Analysis' tab. Analyze the following information: (a) By how much does the year-end estimate of future uncollectible accounts reduce net income in 2021? Bad Debt Expense (b) What is the ending balance of Allowance for Uncollectible Accounts? Ending Balance of Allowance for Uncollectible Accounts (c) What amount of cash is expected to be collected from accounts receivable? Amount expected to be collected Balance Sheet