Events Journal Entries 1. Guests pay for their rentals with credit cards. During the year, the company charged a total of $258,500 to customer cards and received cash of $250,745(258,500 less 3% credit card fee of $7,755 ). 2. Corporate retreats during the year totaled $76,000. These are on account. 3. Business clients are extended credit and allowed to pay with terms 2/10 net 30 . Business clients from #2 above made payments on their accounts (totaling $36,000 ) in time to take advantage of the discount. Cash was received in the amount of $35,280 after the discount. 4. Other business clients from \#3 above made payments on their accounts (totaling $ 19,000 ) but not in time to take advantage of the discount. Cash was received in the amount of $19,000. 5. After trying unsuccessfully for some time, a customer account receivable of $2,600 from the previous year was deemed uncollectible and written off. 6. The company took a careful look at outstanding accounts receivable and believes the allowance for uncollectible accounts should be $7,000