June 30, Purple Party Planners had a $38,000 balance in Accounts Receivable and a $3,875 credit balance in Allowance for Uncollectible ble made credit sales of $199,000 $2,880. ense is estimated as 4% of credit A i Requirements ad the requirements. quirement 1. Jouanze sales, con pa buning t required. (Record debits first, ther 1. Journalize sales, collections, write-offs of uncollectibles, and Begin by recording the journal entre uncollectible-account expense by the allowance method during July. Explanations are not required. 2. Show the ending balances in Accounts Receivable, Allowance for Date Uncollectible Accounts, and Net Accounts Receivable at July 31. How much does Purple expect to collect? (a) 3. Show how Purple Party Planners will report accounts receivable and net sales on its July 31 balance sheet and income statement for the month ended July 31. Print Done Choose from any list or enter any nu Check A Clear All 8 remaining 8 parts To see what to study next, go to your Study Plan. o s e 9 ere to search Assignments On June 30, Purple Party Planners had a $38.000 balance in Accounts Receivable and a $3.875 credit balance in Allowance for Uncollectible Accounts. During July Purple made cred sales of $190,000. July collections on account were $167.000, and write-offs of uncollectible recevables totaled $2.850. Uncollectie-accounts exponse is estimated as 4% of credit sales. No sales returns are expected. Ignore cost of goods sold Do Homework Read the requirements Take a Quiz/Test Explanations are Requirement 1. Joumalo sales, collections, write-offs of uncollectibles, and uncolectible-account expense by the allowance method during not required. Record dobits first, then credits Exclude explanations from any ournal ones) (a) Begin by recording the journal entry for Julysales. Journal Entry Date Accounts Choose from any list of enter any number Check A To see what to study exto to your PC