Exercise 5-21 Complete the accounting cycle using receivable transactions (L05-1,5-4,5-5, 5-7,5-8) (GL) On January 1, 2021, the general ledger of 3D Family Fireworks includes the following account balances: Credit Debit $ 26,300 14,800 $ 3,200 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Supplies Notes Receivable (6%, due in 2 years) Land Accounts Payable Common Stock Retained Earnings Totals 3,700 16,000 80,100 8,100 96,000 33,600 $140, 900 $140,900 During January 2021, the following transactions occur: January 2 Provide services to customers for cash, $ 47,100. January 6 Provide services to customers on account, $84,400. January 15 Write off accounts receivable as uncollectible, $2,900. January 20 Pay cash for salaries, $32,600. January 22 Receive cash on accounts receivable, $82,000. January 25 Pay cash on accounts payable, $6,700. January 30 Pay cash for utilities during January, $14,900. The following information is available on January 31, 2021. a. The company estimates the amount of their uncollectible accounts. The company determines $4,100 out of the total accounts receivable shown on the General Ledger on January 31 is past due, and 20% of these past due amounts are estimated to be uncollectible. The remaining accounts receivable balance on January 31 is not past due, and 5% of these current accounts are also 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 $850. 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 $34,700. Require... * General General Journal Ledger Trial Balance Income Statem... Balance Sheet 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.) Show less View transaction list Journal entry worksheet 18 13 The company estimates future uncollectible accounts. The company determines $4,100 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 Note: Enter debits before credits. Debit Credit Date Jan 31, 2021 General Journal Bad Debt Expense Allowance for Uncollectible Accounts Record entry View general journal Clear entry Journal entry worksheet ..... 6 8 9 10 11 12 13 > LLLLLLLLLLLLLLLLLLLLLmmmm LLLLLLLL Supplies at the end of January total $850. Record the adjusting entry for supplies. Note: Enter debits before credits. Date General Journal Debit Credit Jan 31, 2021 Record entry Clear entry View general journal Journal entry worksheet ..... 6 0 10 11 12 13 ) Unpaid salaries at the end of January are $34,700. Record the adjusting entry for salaries. umpleto aries at the end Note: Enter debits before credits. General Journal | Debit Credit Date Jan 31, 2021 Record entry Clear entry View general journal Journal entry worksheet