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Journal Entries for Accounts and Notes Receivable Pittsburgh, Inc., began business on January 1. Certain transactions for the year follow: Jun Received a $15.000.00 day,

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Journal Entries for Accounts and Notes Receivable Pittsburgh, Inc., began business on January 1. Certain transactions for the year follow: Jun Received a $15.000.00 day, eight percent note on account from. Albert Aux beceived payment from. Albert on his pote (principal plus interest Sept Received a 536.000, 120 day even percent note from RT. Matthews Company on account Deco Received a 528.800.45 day, ten percent note from Lakey on account. DO RI. Matthews Company faled to pay its note Dec. Wrote off RT. Matthew account as uncollectie Pittsburgh, Inc. use the Wowance method of providing for credit losses Recorded expected credit losses for the year by an adjusting entry. Accounts written off during this first year have created a debit balance in the Slowance for doubtful accounts 545.200 Analyse Dec 31 and receivables indicates that the desired balance of the allowance account should be 541.000 Dec 31 Made the appropriateadusting entries for interest Required Record the foregoing transactions and adjustments in general journal form. (Round all interest Income calculations to the nearest dolara General Journal Date Description Debit Credit 0 + 0 ved day on count 0 o 0 0 0 To recordo from ap 0 0 Received a 120 day, 9 percent note on account. > Dec. 16 0 0 O O Received a 45-day, 10 percent note on account. Dec.30 0 0 > 0 0 0 0 Notes Receivable--R.T. Matthews To record dishonoring of R.T. Matthews's note. 0 Dec. 31 o 0 0 To write off R.T. Matthews's account. ) 0 Dec 31 OO 0 To record allowance for uncollectible accounts. O 0 Dec. 31 > > 0 0 To accrue interest income on December 16 note. Check

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