La Battle for Gew Www Anyway man Note when the and we w they Become the content of Da Pedom ACEIP Deferred even 30 Connect Predam COLORX2021 Order hedder 1.000 h, with others to the camp wore the Dary purchased received the 10th you to thout The coach Only Gear the way for the pay period from 1/1/21 One Genc de 600 more than that they will come ghout the years.co.75 O ry, 1.000s on account for $5 per Gews Other inventory.com OMGwadi 2.000 515 hot. The customer and 5500 ah on the date of purch, and will pay the balance deony be your employees way for the period from 1/16/23 1/31/2018 The was wie Fryd 2001 ApGw management acts to the Percentage of the tomate the bed tech month Based on her hory with your time at you may want 2.0 of me ut the Cet of Good old dot he 25 Cape Journal Entries Ledger Accounts (T-Accounts) Balance Sheet Accounts Income Statement Accounts De Acco Crede + METS De Grer FARLITIES De Cr SIXHOLDERS EQUITY Credit REVENUE Debit C DOMOS Den Credit Conto Cochod Cath 18,000 Alle 500 3,800 10 10.00 00 Batted Servere Alec 2.00 Deferred 1.000 Awant to be 1000 11 11 100 IN Der Balance Cher Prepare Nowe 5.000 5.000 mary reper Total Court DM 2 3 3+ Auggie Gear, Inc. Income Statement For the Month Ended January 31, 2021 Sales Revenue Less: Cost of Goods Sold Gross Profit Operating Expenses: Total Operating Expens Net Income Auggie Gear, Inc. Statement of Retained Earnings For the Month Ended January 31, 2021 Retained Earnings Common Stock 5,800 600 Beg. Bal. January 1, 2021 January Activity End. Bal. January 31, 2021 600 5,800 Auggie Gear, Inc. Balance Sheet As of January 31, 2021 Assets Current Assets Ca Iny Accounts Rec Less: Allowance for Doubtful Accoun Total Cur Total Assets Liabilities & Stockholders' Equity Liabilities Current Liabilities Total Current Liabili Long-Term Liabilities Total Liabilities Stockholders' Equity Total Stockholders' Equity Total Liabilities & Stockholders' Equity Part 2 Customer InvoiceNumber Account Manager ABC BUS Total ACMC Clinic Total AEROSPACE SYSTEMS Total AOCO Total BONGARDS CREAMERIES Total Cargill, Inc. Total CATALLIA MEXICAN FOODS Total Chart Industries Total Cypress Semiconductor inc Total Data Recognition Corporation Total Windings Total Woodstream Total Worthington Container, Inc Total Grand Total Total Balance Amount Payment Terms InvoiceDate 511,09184 $1.295,90 56,7127 $184,571.97 52.08335 5309,091 55.63611 $11.456.71 $239 140.41 $530728 $6.10.05 461 146.26 $21.175.29 $870.324 Days Balances Due Have Been Outstanding Under 10 31 to 60 61 to 90 Over 90 $11.091.54 50.00 $0.00 $0.00 51.395.90 50.00 50.00 50.00 56,871.27 50.00 59.00 50.00 5164573.97 $0.00 $0.00 50.00 52.623.35 50.00 50.00 50.00 $187.248.96 $71.82 $4,73403 550.00 55.636.31 10.00 $0.00 58.00 5456.77 54.33 34 $0.00 15. 510003424 54.199.00 57.7M99 567574 55,20552 510176 3.00 $0.00 $5,635.0 5675.00 $0.00 $0.00 561,046,96 $0.00 $100.00 59.00 $23,175.79 59.00 $0.00 50.00 5656.246 580666 $572121 $76 291 Instructions: The set of facts in Part 2 of this assignment is Independent of the Auggle Gear information from Part 1, Your business has the balances above due from your customers. Therefore, tot accounts receivables outstanding of December 31, 2020 are 5870,124 (in column"), which is made up of the balances under each Days Outstanding columns. Its December stand you're recording your months and adjusting journal.cories for December Your boss as informed you that you use the "Aging of Accounts Receivable method to calculate your estimate for Bad Debt. Based on prior years collections, your bois estimates but one half of one percent of receivables outstanding for under 10 days won't be collected, I of receivables outstanding from 11.60 days wont be collected, receives cutstanding for 100 days won't be collected, and 6% of receivables outstanding for over 90 days wont be collected. The beginning balance in of December 1, 2020) of the Allowance for Doubtful Accounts 15 a credit balance of 58,000. Required Calculate the amount of Bad Debt Copense that's needed for December in the Age of Accounts Receivable method and record the December month-end adjusting entry to record your estimate for bad debe Account Description Account Destion Debit Debit Desired 12/31/20 Mlowance falance 12/1/20 Allowance Manaco 12/31/20 Bad Debt Expense La Battle for Gew Www Anyway man Note when the and we w they Become the content of Da Pedom ACEIP Deferred even 30 Connect Predam COLORX2021 Order hedder 1.000 h, with others to the camp wore the Dary purchased received the 10th you to thout The coach Only Gear the way for the pay period from 1/1/21 One Genc de 600 more than that they will come ghout the years.co.75 O ry, 1.000s on account for $5 per Gews Other inventory.com OMGwadi 2.000 515 hot. The customer and 5500 ah on the date of purch, and will pay the balance deony be your employees way for the period from 1/16/23 1/31/2018 The was wie Fryd 2001 ApGw management acts to the Percentage of the tomate the bed tech month Based on her hory with your time at you may want 2.0 of me ut the Cet of Good old dot he 25 Cape Journal Entries Ledger Accounts (T-Accounts) Balance Sheet Accounts Income Statement Accounts De Acco Crede + METS De Grer FARLITIES De Cr SIXHOLDERS EQUITY Credit REVENUE Debit C DOMOS Den Credit Conto Cochod Cath 18,000 Alle 500 3,800 10 10.00 00 Batted Servere Alec 2.00 Deferred 1.000 Awant to be 1000 11 11 100 IN Der Balance Cher Prepare Nowe 5.000 5.000 mary reper Total Court DM 2 3 3+ Auggie Gear, Inc. Income Statement For the Month Ended January 31, 2021 Sales Revenue Less: Cost of Goods Sold Gross Profit Operating Expenses: Total Operating Expens Net Income Auggie Gear, Inc. Statement of Retained Earnings For the Month Ended January 31, 2021 Retained Earnings Common Stock 5,800 600 Beg. Bal. January 1, 2021 January Activity End. Bal. January 31, 2021 600 5,800 Auggie Gear, Inc. Balance Sheet As of January 31, 2021 Assets Current Assets Ca Iny Accounts Rec Less: Allowance for Doubtful Accoun Total Cur Total Assets Liabilities & Stockholders' Equity Liabilities Current Liabilities Total Current Liabili Long-Term Liabilities Total Liabilities Stockholders' Equity Total Stockholders' Equity Total Liabilities & Stockholders' Equity Part 2 Customer InvoiceNumber Account Manager ABC BUS Total ACMC Clinic Total AEROSPACE SYSTEMS Total AOCO Total BONGARDS CREAMERIES Total Cargill, Inc. Total CATALLIA MEXICAN FOODS Total Chart Industries Total Cypress Semiconductor inc Total Data Recognition Corporation Total Windings Total Woodstream Total Worthington Container, Inc Total Grand Total Total Balance Amount Payment Terms InvoiceDate 511,09184 $1.295,90 56,7127 $184,571.97 52.08335 5309,091 55.63611 $11.456.71 $239 140.41 $530728 $6.10.05 461 146.26 $21.175.29 $870.324 Days Balances Due Have Been Outstanding Under 10 31 to 60 61 to 90 Over 90 $11.091.54 50.00 $0.00 $0.00 51.395.90 50.00 50.00 50.00 56,871.27 50.00 59.00 50.00 5164573.97 $0.00 $0.00 50.00 52.623.35 50.00 50.00 50.00 $187.248.96 $71.82 $4,73403 550.00 55.636.31 10.00 $0.00 58.00 5456.77 54.33 34 $0.00 15. 510003424 54.199.00 57.7M99 567574 55,20552 510176 3.00 $0.00 $5,635.0 5675.00 $0.00 $0.00 561,046,96 $0.00 $100.00 59.00 $23,175.79 59.00 $0.00 50.00 5656.246 580666 $572121 $76 291 Instructions: The set of facts in Part 2 of this assignment is Independent of the Auggle Gear information from Part 1, Your business has the balances above due from your customers. Therefore, tot accounts receivables outstanding of December 31, 2020 are 5870,124 (in column"), which is made up of the balances under each Days Outstanding columns. Its December stand you're recording your months and adjusting journal.cories for December Your boss as informed you that you use the "Aging of Accounts Receivable method to calculate your estimate for Bad Debt. Based on prior years collections, your bois estimates but one half of one percent of receivables outstanding for under 10 days won't be collected, I of receivables outstanding from 11.60 days wont be collected, receives cutstanding for 100 days won't be collected, and 6% of receivables outstanding for over 90 days wont be collected. The beginning balance in of December 1, 2020) of the Allowance for Doubtful Accounts 15 a credit balance of 58,000. Required Calculate the amount of Bad Debt Copense that's needed for December in the Age of Accounts Receivable method and record the December month-end adjusting entry to record your estimate for bad debe Account Description Account Destion Debit Debit Desired 12/31/20 Mlowance falance 12/1/20 Allowance Manaco 12/31/20 Bad Debt Expense