Exercises Saved Help Save & Exit Check Required information Exercise 5-22A Complete the accounting cycle using receivable transactions (LO5-1,5-2,5-4,5-5,5-7) (GL) (The following information applies to the questions displayed below.) The general ledger of Pop's Fireworks includes the following account balances in 2021: Credit Debit $ 24,400 49,500 $ 5,400 11,500 42,000 101,000 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Supplies Notes Receivable (88, due in 2 years) Land Accounts Payable Common Stock Retained Earnings Service Rever Salaries Expense Utilities Expense Supplies Expense Totals 15,500 170,000 31,500 128,000 72,500 29,000 20,500 $350,400 $350,400 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 $23,008. 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 $13,000. November 15 Write off customer accounts of $3,100 as uncollectible. Exercise 5-22A Part 1 Prey 9 10 11 Exercise 5-22A Part 1 Required: 1. Record each of the transactions listed above. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the services provided to customers on account, $23,000. Note: Enter debits before credits Debit Credit Date General Journal Jun 03, 2021 Accounts Receivable Service Revenue 23,000 23,000 Record entry Clear entry View general journal Exercise 5-22A part 2 2. Record the following adjusting entries on December 31. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) a. Estimate that 10% of the balance of accounts receivable (after transactions in requirement 1) will not be collected. b. Accrue interest on the note receivable of $42,000, which was accepted on October 1, 2021. Interest is due each September 30 View transaction list Journal entry worksheet