On January 1, 2018, the general ledger of 3D Family Fireworks includes the following account balances:

Accounts	Debit			Credit
Cash	$	25,900
Accounts Receivable		14,600
Allowance for Uncollectible Accounts				$	2,800
Supplies		3,500
Notes Receivable (5%, due in 2 years)		30,000
Land		78,000
Accounts Payable					9,800
Common Stock					106,000
Retained Earnings					33,400
Totals	$	152,000		$	152,000

During January 2018, the following transactions occur:

January	2		Provide services to customers for cash, $45,100.
January	6		Provide services to customers on account, $82,400.
January	15		Write off accounts receivable as uncollectible, $2,400.
January	20		Pay cash for salaries, $32,400.
January	22		Receive cash on accounts receivable, $80,000.
January	25		Pay cash on accounts payable, $6,500.
January	30		Pay cash for utilities during January, $14,700.

The following information is available on January 31, 2018.

At the end of January, $6,000 of accounts receivable are past due, and the company estimates that 20% of these accounts will not be collected. Of the remaining accounts receivable, the company estimates that 5% will not be collected. The note receivable of $30,000 is considered fully collectible and therefore is not included in the estimate of uncollectible accounts.

Supplies at the end of January total $750.

Accrued interest revenue on notes receivable for January. Interest is expected to be received each December 31.

Unpaid salaries at the end of January are $34,500.

1. Prepare the adjusting entry for uncollectible accounts.

Prepare the adjusting entry for supplies.

Prepare the adjusting entry for interest.

Prepare the adjusting entry for salaries.

Prepare the closing entry for revenue

2. Calculate receivables turnover ratio for the month of Januray. (Hint: For the numerator, use total services to customers provided on accont). If the industry average of the receivables turnover ratios for the month of January is 4.3 times, is the company collecting cash from customers more or less efficiently than other companies in the same industry? Accounts Receivable turnover: ? The company is collecting more efficiently: (True or False)

3. Calcular the ratio of Allowance for Uncollectible Accounts to Accounts Receivable at the end of January. Based on a comparison of this ratio to the same ratio at the beginning of January, does the company expect an improvement or worsening in cash collections from custoemrs on credit sales? Ratio: Shoudl the company expect impriving or worsening conditions? (Improving or Worsening)