On January 1, 2018, the general ledger of TNT Fireworks includes the following account balances Accounts Debit Credit Cash $ 60,300 Accounts Receivable 28,200 Inventory 37,900 Notes Receivable (5 , due in 2 years) 31,200 Land 171,000 Allowance for Uncollectible Accounts 3,800 Accounts Payable 16,400 Common Stock 236,000 Retained Earning 72,400 Totals $ 328,600 $ 328,600 During January 2018, the following transactions occur January 1 Purchase equipment for $21,100 The company estimates a residual value of $3,100 and a five year service life January 4 Pay cash on accounts payable, $11,100 January 8 Purchase additional inventory on account, $98,900 January 15 Receive cash on accounts receivable, $23,600 January 19 Pay cash for salaries, $31,400 January 28 Pay cash for January utilities, $18,100 January 30 Firework sales for January total $236,000 All of these sales are on account The cost of the units sold is $123,000 The following information is available on January 31, 2018 Depreciation on the equipment for the month of January is calculated using the straight line method The company estimates future uncollectible accounts The company determines $4,600 of accounts receivable on January 31 are past due, and 50 of these accounts are estimated to be uncollectible The remaining accounts receivable on January 31 are not past due, and 3 of these accounts are estimated to be uncollectible The note receivable of $31,200 is considered fully collectible and therefore is not included in the estimate of uncollectible accounts (Hint Use the January 31 accounts receivable balance calculated in the general ledger ) Accrued interest revenue on notes receivable for January Unpaid salaries at the end of January are $34,200 Accrued income taxes at the end of January are $10,600 Journal entry worksheet 15 1 8 10 11 12 13 14 Prepare the adjusting entry for uncollectible accounts Note Enter debits before credits Date Debit Credit Account Title Jan 31 Record entry Clear entry View general journal Journal entry worksheet 1 10 11 12 13 14 15 Prepare the adjusting entry for interest Note Enter debits before credits Credit Date Debit Account Title Jan 31 Record entry Clear entry View general journal Journal entry worksheet

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On January 1, 2018, the general ledger of TNT Fireworks includes the following account balances: Accounts Debit Credit Cash $ 60,300 Accounts Receivable 28,200 Inventory

On January 1, 2018, the general ledger of TNT Fireworks includes the following account balances:

Accounts	Debit		Credit
Cash	$	60,300
Accounts Receivable		28,200
Inventory		37,900
Notes Receivable (5%, due in 2 years)		31,200
Land		171,000
Allowance for Uncollectible Accounts				3,800
Accounts Payable				16,400
Common Stock				236,000
Retained Earning				72,400

Totals	$	328,600	$	328,600

During January 2018, the following transactions occur:

January 1	Purchase equipment for $21,100. The company estimates a residual value of $3,100 and a five-year service life.
January 4	Pay cash on accounts payable, $11,100.
January 8	Purchase additional inventory on account, $98,900.
January 15	Receive cash on accounts receivable, $23,600
January 19	Pay cash for salaries, $31,400.
January 28	Pay cash for January utilities, $18,100.
January 30	Firework sales for January total $236,000. All of these sales are on account. The cost of the units sold is $123,000.

The following information is available on January 31, 2018.

Depreciation on the equipment for the month of January is calculated using the straight-line method.
The company estimates future uncollectible accounts. The company determines $4,600 of accounts receivable on January 31 are past due, and 50% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 3% of these accounts are estimated to be uncollectible. The note receivable of $31,200 is considered fully collectible and therefore is not included in the estimate of uncollectible accounts. (Hint: Use the January 31 accounts receivable balance calculated in the general ledger.)
Accrued interest revenue on notes receivable for January.
Unpaid salaries at the end of January are $34,200.
Accrued income taxes at the end of January are $10,600

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Journal entry worksheet 15 1 8 10 11 12 13 14 Prepare the adjusting entry for uncollectible accounts. Note: Enter debits before credits. Date Debit Credit Account Title Jan 31 Record entry Clear entry View general journal Journal entry worksheet 1 10 11 12 13 14 15 Prepare the adjusting entry for interest Note: Enter debits before credits. Credit Date Debit Account Title Jan 31 Record entry Clear entry View general journal Journal entry worksheet