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Journalize these transactions Prepare a trial balance at February 28, 2017. Journalize the following adjustments. Services performed for customers through February 27, 2017, but unbilled
Journalize these transactions
Prepare a trial balance at February 28, 2017. Journalize the following adjustments. Services performed for customers through February 27, 2017, but unbilled and uncollected were $3, 190. Received notice that a customer who was bil&ed $180 for services performed February 10 has filed for bankruptcy. Metlock does not expect to collect any portion of this outstanding receivable. Metlock uses the allowance method to estimate bad debts. Metlock estimates that 3% of its month-end receivables will not be collected. Record 1 month of depreciation for the floor equipment. Use the straight-line method, an estimated life of 4 years, and $700 salvage value. Record 1 month of insurance expense. An Inventory count snows $340 of supplies on hand at February 28. One week of services were performed for the customer who paid in advance on February 17. Accrue for wages owed through February 28, 2017. Accrue for interest expense for 1 month Karen estimates a 20% income tax rate. Services performed for customers through February 27, 2017, but unbilled and uncollected were $3, 190. Received notice that a customer who was billed $180 for services performed February 10 has filed for bankruptcy. Metlock does not expect to collect any portion of this outstanding receivable. Metlock uses the allowance method to estimate bad debts. Metlock estimates that 3% of its month-end receivables will not be collected. Record 1 month of depreciation for the floor equipment. Use the straight-line method, an estimated life of 4 years, and $700 salvage value. Record 1 month of insurance expense. An Inventory count snows $340 of supplies on hand at February 28. One week of services were performed for the customer who paid in advance on February 17. Accrue for wages owed through February 28, 2017. Accrue for interest expense for 1 month Karen estimates a 20% income tax rateStep by Step Solution
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