of Accounts T Accounts Journal Instructions Final Questions The following transactions were completed by Emmanuel Company during the current fiscal year ended December 31 Jan 29 Received 40% of the $18.500 balance owed by Jankovich Co a bankrupt business, and wrote of the remainder as uncollectible . 18 Aug 9 Nov 7 Reinstated the account of Vince Karm, which had been written off in the preceding year as uncollectible. Journalized the receipt of 57 430 cash in full payment of Karm's account Wrote off the $6,470 balance owed by Golden Stallion Co., which has no assets Reinstated the account of Wiley Co., which had been written off in the preceding year as uncollectible Journalized the receipt of $3,870 cash in full payment of the account Wrote off the following accounts as collectible (one entry) Claire Moon Inc. 57.245 Jet Set Co $5.595, Randall Distributors. $9.500. Harmonic Audio, $1,060 Based on an analysis of the $1.769.500 of accounts receivable, it was estimated that 535 390 de Dec 31 31 Check My Works mate amo Etining 1: Required: 1. Record the January 1 credit balance of $25,330 in a T account for Allowance for Double Accounts 2 a. Journalize the transactions for the December 31 adjusting entry, assume the $1,769,500 balance in accounts receivable reflects the adjustments made during the year. Refer to the chart of accounts for the exact wording of the accounties CNOW journais do not use dnes for journal explanations. Every line on a journal page is used for debitor credit entries ONOWjournals will automatically indent a creditentry when a credit amount is entered b. Post each entry that affects the following selected accounts and determine the new balances: Allowance for Door Accounts and Bad Debt Expense 3. Determine the expected net realizable value of the accounts Receivable as of December 31 (after all of the adustments and the dusting entry) 4. Assuming that instead of basing the provision for uncollectible accounts on an analysis of receves the adusting entry on December 3rd honen onnant of the net.CERN to the ack My Work mora cheos Work to remaining ( Chart of Accounts TAccounts Journal Instructions Final Questions 31 $5,595, Randall Distributors. 59,500, Harmonic Audio, 51,000 Based on an analysis of the 51,769,500 of accounts receivable, it was estimated that 535.390 wilde uncollectible Journalized the adjusting entry. Required: 1. Record the January 1 credit balance of $25,330 in a Taccount for meDom Account 2 a. Journalize the transactions. For the December 31 austing entry, assume the 51,769,500 balance an accounts receberechte adjustments made during the year Refer to the chart of accounts for the exact wording of the account NOW mal de notre for journal explanations Every line on a journal page is used for det or credit entries CNOWjours will automatically indent acreditary when a credit amount is entered b. Posteach entry that affects the following selected accounts and determine the new balances: Allowance for Down Accounts and Bad Debt Expense" 2 Dodomi Nathan eck My Work 5 more Check My Work uses remaining Chart of Accounts TAccounts Journal Instructions Final Questions 31 $5,595, Randall Distributors. 59,500, Harmonic Audio, 51,000 Based on an analysis of the 51,769,500 of accounts receivable, it was estimated that 535.390 wilde uncollectible Journalized the adjusting entry. Required: 1. Record the January 1 credit balance of $25,330 in a Taccount for meDom Account 2 a. Journalize the transactions. For the December 31 austing entry, assume the 51,769,500 balance an accounts receberechte adjustments made during the year Refer to the chart of accounts for the exact wording of the account NOW mal de notre for journal explanations Every line on a journal page is used for det or credit entries CNOWjours will automatically indent acreditary when a credit amount is entered b. Posteach entry that affects the following selected accounts and determine the new balances: Allowance for Down Accounts and Bad Debt Expense" 2 Dodomi Nathan eck My Work 5 more Check My Work uses remaining