NOTE: to record bad debt expense refering to the 10% of current AR, it is stated to ignore the 1st transactions debit to AR of 7,000. current journal entries are correct, i just cannot come up with Retained Earnings when closing revs.

\begin{tabular}{|c|c|c|c|c|c|} \hline> & 1 & June 03, 2024 & Accounts Receivable & 7.000 & \\ \hline & & & Service Revenue & & 7,000 \\ \hline \multirow[t]{3}{*}{/} & 2 & June 08, 2024 & Cash & 4,900 & \\ \hline & & & Sales Discounts & 100 & \\ \hline & & & Accounts Receivable & & 5.000 \\ \hline \multirow[t]{2}{*}{7} & 3 & \begin{tabular}{l} November 15 , \\ 2024 \end{tabular} & Allowance for Uncollectible Accounts & 1,500 & \\ \hline & & & Accounts Receivable & & 1500 \\ \hline & 4 & \begin{tabular}{c} December 31 \\ 2024 \end{tabular} & Bad Dobt Expense & 3,500 & \\ \hline & & & Allowance for Uncollectibie Accounts & & 3,500 \\ \hline \multirow[t]{3}{*}{} & & . & & & \\ \hline & 6 & \begin{tabular}{c} December 31 \\ 2024 \end{tabular} & Service Revenue & 131,800 & \\ \hline & & & Interest Revenue & 200 & \\ \hline & & & Retained Earnings & & \\ \hline & & & & & \\ \hline & 7 & \begin{tabular}{c} December 31, \\ 2024 \end{tabular} & Retained Earnings & 114,300 & \\ \hline & & & Salaries Expense & & 70,900 \\ \hline \end{tabular} Prov 8 of 11 Next The general ledger of Pop's Fireworks includes the following account balances in 2024 In addition, the following transactions occurred during 2024 and are not yet reflected in the account batances atiove: charted 35, 000. tiovaber is Write of chastimer ascounts of $1, she as uncollectible: The following information is avaltable on December 31 . a. Estimate that to\%s of the balance of accounts recelvabie (after transactions in requirement 1 ) will not be collectied (Vint Use the January 3t accounts receivable balance calculated in the general ledger to determine the total estimate of uncollectible accouants) b. Accrive interest on the note recelvable of $10,000, which was accepted on October 1,2024. interest is due each Septromber 30