Entries related to uncollectible accounts Instructions The following transactions were completed by Emmanuel Company during the current fiscal year ended December 31 Jan. 29 Received 40% of the $17,000 balance owed by Jankovich Co, a bankrupt business, and wrote off the remainder as uncollectible Apr. Reinstated the account of Vince Karm, which had been wnitten off in the preceding year as uncollectible. Journalized the receipt of $7,560 cash in full paryment of Karris account. Aug 9 Wrote of the $22,380 balance owed by Golden Stallion Co, which has no assets Nov 7 Reinstated the account of Wiley Co, which had been written oft in the preceding year as uncollectble Journalzed the receipt of $13.220 cash in full payment of the account. Dec 31 Wote off the following accounts as uncollectble (one entry) Claire Moon inc, \$22, 860, Jet Set Co. $15,320, Randali Distributors, \$41,460, Harnonc Auxio, $18,800 31 Based on an analysis of the $2,740,000 of accounts receivable, it was estimated that $113,330 will be 1. Recodd the Januay 1 credi balance of 5102,300 in a r account for Amowance for Doobiffi Accounts: 20 Post each entry that aflects the following selocted T accounts and determme the new bolances Alowance for Doubtul Accounts and "The ending badance labet is provided on the kef side of the T acoount even when the ending buance is a creow. The anused oed on me bathec the should be mitt blark Entries related to uncolloctille sccounts wif automaticaly makent a orot enthy when a crodt amoont is endered Jouken. 3 Detomme the expected net reakzatie value of the accosints mecerabk as of December 31 (afeer al of the adustmenis and the adustnig entry). tho of the sales of 524900,000 for the yeat, delernine the folowing for the yeat b Falance in the abowance account atter the adustmen at Decernber 31 c. Erpecled net reaizable value of the accounds seceivable as of December 31 Entries related to uncollectible accounts Instructions The following transactions were completed by Emmanuel Company during the current fiscal year ended December 31 Jan. 29 Received 40% of the $17,000 balance owed by Jankovich Co, a bankrupt business, and wrote off the remainder as uncollectible Apr. Reinstated the account of Vince Karm, which had been wnitten off in the preceding year as uncollectible. Journalized the receipt of $7,560 cash in full paryment of Karris account. Aug 9 Wrote of the $22,380 balance owed by Golden Stallion Co, which has no assets Nov 7 Reinstated the account of Wiley Co, which had been written oft in the preceding year as uncollectble Journalzed the receipt of $13.220 cash in full payment of the account. Dec 31 Wote off the following accounts as uncollectble (one entry) Claire Moon inc, \$22, 860, Jet Set Co. $15,320, Randali Distributors, \$41,460, Harnonc Auxio, $18,800 31 Based on an analysis of the $2,740,000 of accounts receivable, it was estimated that $113,330 will be 1. Recodd the Januay 1 credi balance of 5102,300 in a r account for Amowance for Doobiffi Accounts: 20 Post each entry that aflects the following selocted T accounts and determme the new bolances Alowance for Doubtul Accounts and "The ending badance labet is provided on the kef side of the T acoount even when the ending buance is a creow. The anused oed on me bathec the should be mitt blark Entries related to uncolloctille sccounts wif automaticaly makent a orot enthy when a crodt amoont is endered Jouken. 3 Detomme the expected net reakzatie value of the accosints mecerabk as of December 31 (afeer al of the adustmenis and the adustnig entry). tho of the sales of 524900,000 for the yeat, delernine the folowing for the yeat b Falance in the abowance account atter the adustmen at Decernber 31 c. Erpecled net reaizable value of the accounds seceivable as of December 31
