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Old MathJax webview The October 1, 2020, records of Joulians Communications include these accounts Accounts Receivable $ 250,000 Allowance for Uncollectible Accounts (8,000) At year-end
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The October 1, 2020, records of Joulians Communications include these accounts Accounts Receivable $ 250,000 Allowance for Uncollectible Accounts (8,000) At year-end the company ages its receivables and adjusts the balance in Allowance for Uncollectible Accounts to correspond to the aging schedule. During the last quarter of 2020, the company completed the following selected transactions i (Click the icon to view the transactions.) Requirements Requirement 1. Record the write-off of uncollectible accounts in the journal (Record debits first, then credits. Explanations are not required) Journal Entry Date Accounts Debit Credit Next record the 60-day note receivable i x Transactions Et qua 2020 Nov. 30 Wrote off as uncollectible the $1,600 account receivable from Unique Carpets and the $700 account receivable from Rare Antiques Dec. 31 One of its customers, Kelly Ltd.agreed to sign a 60-day note receivable to replace the $1.200 accounts receivable due on that day Dec. 31 Adjusted the Allowance for Uncollectible Accounts and recorded Bad Debt Expense at year-end, based on the aging of receivables, which follows. Age of Accounts 0 - 30 31-60 61 - 90 Over 90 Total Balance Days Days Days Days $250.000 $ 151.000 $ 38.000 $ 21.000 S 40.000 Estimated uncollectible 0.2% 0.5% 5.0% 30% Print Done Requirements Record the transactions in the journal. Explanations are not required. Prepare a T-account for Accounts Receivable and the Allowance for Uncollectible Accounts and post to those accounts. Show how Joulians would report its accounts receivable on a comparative balance sheet for 2019 and 2020. At December 31, 2019, the company's Accounts Receivable balance was $209,000 and the Allowance for Uncollectible Accounts stood at $4.000 Print Done The October 1, 2020, records of Joulians Communications include these accounts: Accounts Receivable 250,000 Allowance for Uncollectible Accounts (8,000) At year-end, the company ages its receivables and adjusts the balance in Allowance for Uncollectible Accounts transactions i (Click the icon to view the transactions.) correspond to the aging schedule During the last quarter of 2020, the company completed the following selected Requirements Next, record the 60-day ndes receivable. Journal Entry Date Accounts Debit Credit Dec Choose from any list or enter any number in the input fields and then continue to the next question 0 The October 1, 2020, records of Joulians Communications include these accounts Accounts Receivable $ 250,000 Allowance for Uncollectible Accounts (8,000) At year-end the company ages its receivables and adjusts the balance in Allowance for Uncollectible Accounts transactions (Click the icon to view the transactions.) Requirement IL correspond to the aging schedule. During the last quarter of 2020, the company completed the following selected Now, record the bad debt expense in the journal Journal Entry Date Accounts Debit Credit Dec. DARAAR DAT nint for Anne inte Dannenhin and the Almennrllenartha Arenitentia thar net Choose from any list or enter any number in the input fields and then continue to the next question: ? The October 1, 2020, records of Joulians Communications include these accounts Accounts Receivable S 250,000 Allowance for Uncollectible Accounts (8,000) At year-end, the company ages its receivables and adjusts the balance in Allowance for Uncollectible Accounts transactions (Click the icon to view the transactions.) correspond to the aging schedule During the last quarter of 2020, the company completed the following selected Seamurement Requirement 2. Prepare art-account for Accounts Receivable and the Allowance for Uncollectible Accounts and post to those accounts Open the T-account by posting the beginning balance. Then post the entries to the Allowance for Uncollectible Accounts Taccount and compute the ending balance. (l.cave any unused cells blank.) Accounts Receivable Allowance for Uncollectible Accounts Requirement 3. Show how Joulians would report its accounts receivable on a comparative balance sheet for 2019 and 2020. At December 31, 2019, the company's Accounts Receivable balance was $209.000 and the Allowance Choose from any list or enter any number in the input fields and then continue to the next question ? The October 1, 2020, records of Jouliaris Communications include these accounts Accounts Receivable $ 250,000 Allowance for Uncollectible Accounts (8,000) At year end the company ages its receivables and adjusts the balance in Allowance for Uncollectible Accounts to correspond to the aging schedule During the last quarter of 2020, the company completed the following selected transactions (Click the icon to view the transactions.) Eleanrontent Requirement 3. Show how Joulians would report its accounts receivable on a comparative balance sheet for 2019 and 2020. At December 31, 2019, the company's Accounts Receivable balance was $209,000 and the Allowance for Uncollectible Accounts stood at $4,000. (Use parentheses or a minus sign for numbers to be subtracted. Enter "O" for any accounts with a so balance.) Joulians Communications Comparative Balance Sheet (partial) December 31, 2020 2020 2019 Choose from any list or enter any number in the input fields and then continue to the next question 7s include the - Transactions $ 250 (8 ts the balance st quarter of 2020, the co 2020 Nov. 30 Wrote off as uncollectible the $1,600 account receivable from Unique Carpets and the $700 account receivable from Rare Antiques Dec. 31 One of its customers, Kelly Ltd agreed to sign a 60-day note receivable to replace the $1,200 accounts receivable due on that day Dec. 31 Adjusted the Allowance for Uncollectible Accounts and recorded Bad Debt Expense at year-end, based on the aging of receivables, which follows unts in the jo Age of Accounts 0-30 31-60 61.90 Over 90 Total Balance Days Days Days Days $250,000 $ 151,000 $ 40.000 38,000 $ 21 000 $ 0 5% 5,0% Estimated uncollectible 0.2% 30% Print Done Telds and th CO 30C lp ho II PI + + prt sc 14 DOCE 250,000 (8,000 aland Requirements quarter of 2020, the co thej 1. Record the transactions in the journal. Explanations are not required. 2. Prepare a T-account for Accounts Receivable and the Allowance for Uncollectible Accounts and post to those accounts 3. Show how Joulians would report its accounts receivable on a comparative balance sheet for 2019 and 2020. At December 31, 2019, the company's Accounts Receivable balance was $209,000 and the Allowance for Uncollectible Accounts stood at $4,000 Print Done and then continue to the next question 30C
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