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o Sir Cleansalot Cleaning uses the allowance method to estimate bad debts. Consider the following April 2019 transactions for Sir Cleansalot Cleaning (Click the icon
o Sir Cleansalot Cleaning uses the allowance method to estimate bad debts. Consider the following April 2019 transactions for Sir Cleansalot Cleaning (Click the icon to view the April 2010 transactions.) Read the requirements * More Info -X Apr. 1 Requirement 1. Prepare all required joumal entries for Sir Cleansalot (Record debits first, then credits. Excl Apr. 1: Performed cleaning services for Dora's D-list for $12,000 on account with terms n/20. Date Accounts Debit Credit Apr. 1 Apr. 10 Apr. 12 Apr. 15 Apr. 28 Apr. 28 Apr. 29 Performed cleaning service for Dora's D-list for $12,000 on account with terms 1/20 Borrowed money from North Spot Bank, 570,000, making a 180 day, 9% note After discussions with Maid 2 Shine, Sir Cleansalot has determined that $240 of the receivable owed will not be collected Wrote off this portion of the recevable Sold goods to Wilmington for $8,000 on account with terms 130. Cost of Goods Sold was $2,400 Sold goods to Logan, Inc. for cash of S1,500 (cost 5600) Collected from Maid 2 Shine. S240 of receivable previously written off Paid cash for utilities of 5550 Created an aging schedule for Sir Cleansalot Cleaning for accounts receivable Sir Cleansalot determined that $5,500 of receivables outstanding for 1-30 days were 4% uncollectible, 55,000 of receivables outstanding for 31-60 days were 20% uncollectible, and 522,000 of receivables outsianding for more than 60 days were 40% uncollectible. Sir Cleansalot Cleaning determined the total amount of estimated uncollectible receivables and adjusted the Allowance for Bad Debts. Assume the account had an unadjusted credit balance of 5210. (Round to nearest wndle dollar) i Requirements -X X 1. Prepare all required journal entries for Sir Cleansalot. Omit explanations 2. Show how net accounts receivable would be reported on the balance sheet as of April 30, 2019 Apr 30 Print Done Print Done Choose from any list or enter any number in the input fields and then click Check Answer 13 parts Clear All Check Answer remaining
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