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

Accounts Debit Credit

Cash	$	27,900
Accounts Receivable		15,600
Allowance for Uncollectible Accounts				$	4,800
Supplies		4,500
Notes Receivable (6%, due in 2 years)		24,000
Land		80,900
Accounts Payable					9,700
Common Stock					104,000
Retained Earnings					34,400

Totals 152900 152900

During January 2018, the following transactions occur:

January	2		Provide services to customers for cash, $55,100.
January	6		Provide services to customers on account, $92,400.
January	15		Write off accounts receivable as uncollectible, $4,500.
January	20		Pay cash for salaries, $33,400.
January	22		Receive cash on accounts receivable, $90,000.
January	25		Pay cash on accounts payable, $7,500.
January	30		Pay cash for utilities during January, $15,700.

The following information is available on January 31, 2018.

1. The company estimates future uncollectible accounts. The company determines $4,900 of accounts receivable on January 31 are past due, and 20% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 5% of these accounts are estimated to be uncollectible. (Hint: Use the January 31 accounts receivable balance calculated in the general ledger.)
2. Supplies at the end of January total $950.
3. Accrued interest revenue on notes receivable for January. Interest is expected to be received each December 31.
4. Unpaid salaries at the end of January are $35,500.

e. Prepare the closing entry for revenue.

f. Prepare the closing entry for expenses.

I have many already answered:

Specifically answer these five questions:

8. Prepare the adjusting entry for uncollectible accounts. Jan. 31

12. Prepare the closing entry for revenue. Jan. 31

13. Prepare the closing entry for expenses. Jan. 31

Calculate Accounts Receivable Turnover

Ratio of Allowance for Uncollectible Accounts to Accounts Receivable

No Date General Journal Debit Credit 55,100 1 Jan 02 Cash Service revenue 55,100 2 Jan 06 Accounts receivable 92,400 Service revenue 92,400 3 Jan 15 Allowance for uncollectible accounts 4,500 Accounts receivable 4,500 Jan 20 Salaries expense 4. 33,400 Cash 33,400 Cash 5 Jan 22 90,000 Accounts receivable 90,000 Accounts payable 6 Jan 25 7,500 Cash 7,500 Utilities expense Jan 30 15,700 Cash 15,700 Bad debt expense 8 Jan 31 Allowance for uncollectible accounts Supplies expense 9 Jan 31 3,550 Supplies 3,550 Interest receivable Jan 31 10 120 Interest revenue 120 Salaries expense 35,500 11 Jan 31 Salaries payable 35,500 Jan 31 Interest payable 120 Service revenue Supplies expense 13 Jan 31 Salaries expense Utilities expense 15,700 Bad debt expense 12 Analyze how well 3D Family Fireworks manages its receivables Calculate the receivables turnover ratio for the month of January (Hint: For the numerator, use total services provided to customers on account). If the industry average of the receivables turnover ratios for the month of January is 5.5 times, is the company collecting cash from customers more or less efficiently than other companies in the same industry? Accounts Receivable turnover: times The company is collecting more efficiently. (true or false) True (b) Calculate 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 customers on credit sales? % Ratio of Allowance for Uncollectible Accounts to Accounts Receivable Improving Should the company expect improving or worsening conditions