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Help with A- E please Council Company develops an aged schedule of accounts recelvable at the end of ench year. (Cick the icon to vaw
Help with A- E please
Council Company develops an aged schedule of accounts recelvable at the end of ench year. (Cick the icon to vaw the schedule of accounts receivable) The company estimated an allowance for uncollectible accounts based on the following estimates: (Click the icon to vikw the allowances peovided) Counci teported net cradit salet of $20,000,000 for the current year. We prosent the conpony's ending balances of accounts recelvahes and the allowance for uncollectible accounte (Click the isnn to view the I-accounts.) Read the tepritements Aged Schedule of Accounts Receivable Council Company: Aged Schedule of Accounts Receivable Allowances provided \begin{tabular}{|c|c} \hline \multirow{2}{*}{ Ending Balance } & \multicolumn{2}{c}{ Accounts Receivable } \\ \cline { 2 - 3 } & 1,611,000 \\ \end{tabular} Allowance for Uncollectible Accounts 94,800 Unadjusted Ending Balance Requirements a. Compute the balance required in the allowance for uncollectible accounts. b. Prepare the journal entry to record the bad debt provision for the current year. c. Independent of your answer to part (b), prepare the journal entry to record the bad debt provision for the current year assuming that the allowance for uncollectible accounts had a $231,000 debit balance. d. Provide the necessary journal entry based on Council's credit management deciding to write off all accounts that were over 90 days past due in the following year. e. Prepare the journal entries required to record the subsequent recovery of the Smokey Industries' receivable if, after the write offs recorded in part (d), Smokey Industries pays the entire balance due Step by Step Solution
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