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On April 30, 2018, Synergy Bank loaned $90,000 to Katrina Pullips on a one-year, 8% note. Synergy's fiscal year ends on December 31. Read the
On April 30, 2018, Synergy Bank loaned $90,000 to Katrina Pullips on a one-year, 8% note. Synergy's fiscal year ends on December 31. Read the requirements Requirement 1. Journalize all entries for Synergy Bank related to the noto for 2018 and 2010. (Record orbits first, then condita ere te parution on the west treat the journe entry table.) Begin by recording the loan on April 30, 2018. Date Anne and unlanation in the input fields and then click Check Answer nie At January 1, 2018, Eagle Mountain Flagpoles had Accounts Receivable of $27,000, and Allowance for Bad Debts had a credit balance of $4,000. During the year, Eagle Mountain Flagpoles recorded the following (Click the icon to view the transactions.) Requirements Read the requirements Accounts Receivable Allowance for B 27000 1. Journalize Eagle's transactions that occurred during 2018. The company uses the allowance method 2. Post Eagle's transactions to the Accounts Receivable and Allowance for Bad Debits T-accounts 3. Journalue Eagle's adjustment to record bad debts expense assuming Choose from any list or enter any number in the input fields and then click Check Answer Eagle estimates bad debts as 2% of credit sales. Post the adjustment to the appropriate T-accounts. 3 Pontaining Clear All 4. Show how Eagle Mountain Flagpoles will report net accounts receivable on December 31, 2018 halinon sheet Accounts Receivable of $27.000, and Allowance for Bad Debts had a credit balanc More Info -X i a. Sales of $174,000 ($156,000 on account; $18,000 for cash). Ignore Cost of Goods Sold. b. Collections on account, $136,000. c. Write-offs of uncollectible receivables, $2,700. in Print Done
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