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December 31, 2021 Debit Credit Cash $23.800 22.000 $1.300 Accounts Receivable Allowance for Doubtful Accounts Equipment Accumulated Depreciation-Equipment Buildings 17.000 103.000 Accumulated Depreciation-Buildings 12.000 Land 20.000 Accounts Payable 12.390 Common Stock 87.000 Retained Earnings $185.000 $185,800 During the first quarter of 2022. the following transactions occurred 1. On February 1. Nova collected fees of 57.200 in advance. The company will perform 600 of services each month from February 1 2022. to January 31, 2018 On February 1 Novak purchased computer opent for $11.250 sales taxes of 3750 3.750 cash was with the resten account Checks was used 3. On March 1. Novak acquired aptent with a 10 year life for $12.000 cash Check 456 was used On March 20. Novak recorded the quarters in a single entry. During this period. Novik had total sales of $170.000 not including the sales referred to in tem boveAll of the sales were on 5. On March 29. Nova collected 5163.000 from customers on account a on March 29. Novak pods16.090 on accounts payable. Check 487 was used 7. On March 29. Novak pod other operating expenses of $97.500. Check 450 watused a on March 31, Novah wrote ofta recolvable of 8.500 for customer who declared bankruptcy. On March 1, Novah soldfors1.620 egulament this orighally costs 11.000 had an estimated like at in the strhline method fit Recon dereciation on the equipment sold then record the man dulvage of $1.000 Accumulated depreciation as of December 31, 2021 was 80.000 Bank reconciliation data and m ent de 1. The c o ncessante every otrom the December 2021, banketi Deposit in transit 12/30/2021 $3.500 Outstanding checs 440 0 0 3452 The ba r e for the quarter anded March 31, 2022.s as follows Begining balance perbank 240 Deposit 1/3/2022 55.500 2/2/202257,200,3/302022, 163000 175.700 Check 452 453 45,514390458.92.500 (115.100 Debitmeme Bakervice charge record s eating experie Ending 2. Recorde d romtem ve 3. $22.000 accounts receivable at March 31, 2022. we not post due vet. The bad debt percentage for these is the balance of accounts receivable are past du The bad debt percentage for these is 24.DON. Record bad debit expense You will need to come the balance in accounts receivable before taking this) 4 Depreciation is recorded on the equipments owned at March 31, 2022. The new purchased for being deprecated in a stracht line banks over 5 years and a value was estimated at $1200. The old equipment will owned is being deprecated over 10 years with no savage 5. Depreciation is recorded on the building on a straight- basis based on a year ag o $14.000 Amortization is recorded on the past 7. The income ta x . This bed when the return is di t . Prepare the income to come for you to compute the amount Journalize entries related to bank reconciliation and all adjusting entries. (Credit account title No. Date Account Titles and Explanation Debit Credit 1. 3/31/2022 Other Operating Expenses 100 Cash 100 2. 3/31/2022 Unearned Service Revenue Service Revenue 1200 3. 3/31/2022 Bad Debt Expense Allowance for Doubtful Accounts 4. 3/31/2022 Depreciation Expense Accumulated Depreciation Equipment 5. 3/31/2022 Depreciation Expense Accumulated Depreciation-Buildings 6. 3/31/2022 Amortization Expense Patents 7. 3/31/2022 Income Tax Expense 30000
