Donovan Carrier Corp has an Accounts Receivable balance of $1,265,000
and an allowance for uncollectible accounts of $99,500(credit) as of 12/31/19.
In 2020 they have credit sales of $2,900,000, cash collections on account of $3,150,000,
and uncollectible account write-offs of $109,000. Their financial manager estimates
15% of their accounts receivables will be uncollectible on December 31, 2020.

REQUIREMENT 1: Provide the journal entry for Donovan for the credit sales for 2020.

REQUIREMENT 2: Provide the journal entry for Donovan for the cash collections for 2020.

REQUIREMENT 3: Provide the journal entry for Donovan for the account write-offs for 2020.

REQUIREMENT 4: Provide the adjusting journal entry for Donovan for the bad debt expense on December 31, 2020.

REQUIREMENT 5: Provide the needed Allowance for Uncollectible Accounts balance as of 12/31/20 per the above facts.

REQUIREMENT 6: Provide the Net Realizable Value of Accounts Receivable as of 12/31/20 after adjustment.

(Hint: You should use T-Accounts to analyze the Accounts Receivable and Allowance for Uncollectible Accounts balances)