On January 1, 2021, the general ledger of 3D Family Fireworks includes the following account balances
Where am I messing up on? If anyone please
On January 1, 2021, the general ledger of 3D Family Fireworks includes the following account balances: Debit Credit $ 26,500 14,900 $ 3,400 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Supplies Notes Receivable (6%, due in 2 years) Accounts Payable Common Stock Retained Earnings Totals 3,800 17,000 80,200 Land 8,300 97,000 33,700 $ 142,400 $ 142,400 During January 2021, the following transactions occur: January 2 Provide services to customers for cash, $48, 100. January 6 Provide services to customers on account, $85,400. January 15 Write off accounts receivable as uncollectible, $3,100. January 20 Pay cash for salaries, $32,700. January 22 Receive cash on accounts receivable, $83,000. January 25 Pay cash on accounts payable, $6,800. January 30 Pay cash for utilities during January, $15,000. The following information is available on January 31, 2021. a. The company estimates future uncollectible accounts. The company determines $4,200 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.) b. Supplies at the end of January total $900. c. Accrued interest revenue on notes receivable for January. Interest is expected to be received each December 31. d. Unpaid salaries at the end of January are $34,800. No Date General Journal Debit Credit 1 Jan 02, 2021 Cash 48,100 Service Revenue 48,100 2 Jan 06, 2021 Accounts Receivable 85.400 Service Revenue 85,400 3 Jan 15, 2021 3,100 Allowance for Uncollectible Accounts Accounts Receivable 3.100 4 Jan 20, 2021 Salaries Expense 32,700 Cash 32,700 5 Jan 22, 2021 83,000 Cash Accounts Receivable 83,000 6 Jan 25, 2021 8.800 Accounts Payable Cash 8.800 7 Jan 30, 2021 Utilities Expense 15,000 15.000 8 Jan 31, 2021 1.340 Bad Debt Expense Allowance for Uncollectible Accounts 1,340 9 Jan 31, 2021 2,900 Supplies Expense Supplies 2.900 10 Jan 31, 2021 85 Interest Receivable Interest Revenue 85 11 Jan 31, 2021 34.800 Salaries Expense Salaries Payable 34,800 12 Jan 31, 2021 Service Revenue Interest Revenue 133.500 85 13 Jan 31, 2021 Salaries Expense Utilities Expense Supplies Expense Bad Debt Expense 34.800 15,000 2.900 1,340 Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Notice the dropdown below that gives the options to select the unadjusted, adjusted or post-closing trial balance. The option you choose will be the values used to populate the income statement and balance sheet tabs. Unadjusted 3D Family Fireworks Trial Balance January 30, 2021 Account Title Debit Credit Cash S tttt 118,100 14,200 300 17,000 3,800 80,200 Accounts Receivable Allowance for Uncollectible Accounts Notes Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Service Revenue Salaries Expense Utilities Expense Total 1,500 97,000 33,700 133,500 ttt 32,700 15,000 281,000 $ S 266,000 Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Notice the dropdown below that gives the options to select the unadjusted, adjusted or post-closing trial balance. The option you choose will be the values used to populate the income statement and balance sheet tabs. Adjusted 3D Family Fireworks Trial Balance January 31, 2021 Account Title Credit S Debit 118,100 14,200 1,640 17,000 85 900 80,200 Cash Accounts Receivable Allowance for Uncollectible Accounts Notes Receivable Interest Receivable Supplies Land Accounts Payable Salaries Payable Common Stock Retained Earnings Service Revenue Interest Revenue Supplies Expense Salaries Expense Utilities Expense Bad Debt Expense Total 1,500 34,800 97,000 33,700 133,500 85 2,900 67,500 15,000 1,340 317,225 S S 302,225
