Instructions Chart of Accounts T Accounts Journal Final Questions Journal Shaded cells have feedback. 28. Journalize the transactions. For the December 31 adjusting entry, assume the $1,769,500 balance in accounts receivable reflects the adjustments made during the year. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. Instructions Jan. 29 Received 40% of the $18,500 balance owed by Jankovich Co., a bankrupt business, and wrote off the remainder as uncollectible. evenue Apr. 18 Reinstated the account of Vince Karm, which had been written off in the preceding year as uncollectible. Journalized the receipt of $7,430 cash in full payment of Karm's account. Aug. Nov 9 Wrote off the $6,470 balance owed by Golden Stallion Co., which has no assets. s 7 Reinstated the account of Wiley Co., which had been written off in the preceding year as uncollectible Journalized the receipt of $3,870 cash in full payment of the account. Dec. T Accounts 31 Wrote off the following accounts as uncollectible (one entry): Claire Moon Inc., $7,245; Jet Set Co., $5,595; Randall Distributors, $9,500; Harmonic Audio, $1,060. Final Questions erchandise Sold aries Expense g Expense Shaded cells have feed 1. Record the January 1 credit balance of $25,330 in a T account for Allowance f 2b. Post each entry that affects the following selected T accounts and determine Bad Debt Expense. *The ending balance label is provided on the left side of the T account even whe line should be left blank. 3. Determine the expected net realizable value of the accounts receivable as of December 31 (after all of the adjustments and the adjusting entry) Points Feedback Check My Work Allowance for Doubtful Accounts Remember that net realizable value is the amount that is expected to be collected or realized. Jan. 1 Balance