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On July 31, Bristlecone Pine Art Ltd. had a $64,900 balance in Accounts Receivable and a $4,300 credit balance in Allowance for Uncollectible Accounts. During

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On July 31, Bristlecone Pine Art Ltd. had a $64,900 balance in Accounts Receivable and a $4,300 credit balance in Allowance for Uncollectible Accounts. During August, Bristlecone Pine Art Ltd. made credit sales of $82,000. August cash collections on account were $67,800; write-offs of uncollectible receivables totalled $2,200; and an account of $800 was recovered. After careful assessment of the updated accounts receivables, Bristlecone Pine Art Ltd. estimates that $3,900 won't be collected. Blank #1: What is the updated Accounts Receivable balance? Blank #2: What is the updated Allowance for Uncollectible Accounts balance? Blanks #3-6: Record the estimated uncollectible amount accordingly. Enter the information in the following order: Blank #3: Debit account Blank #4: Debit $-amount Blank #5: Credit account Blank #6: Credit $-amount Required formatting: For $-amounts, only enter the plain number without $-sign, commas etc. Round results to full units (i.e., round to dollar). Blank # 1 Blank # 2 Blank # 3 BianK # 3 Blank #4 Blank #5 Blank # 6 3 ACCT 1220 Final Exam - Simplified Chart of Accounts - W22 Assets Liabilities Shareholders Revenues Expenses Equity Cash Accounts Payable Coinmon Shares Sales Revenue Bad Debt Expense Accounts Receivable Notes Payable Retained Earnings Service Cost of Goods Sold Revenue Allowance for Uncollectable Income Tax Payable Interest Depreciation Expense Accounts Revenue Notes Receivable Interest Payable Dividends Declared Gain from Freight Out Disposal or Non-current Assets Inventory Refund Liability Dividends Payable Income Tax Expense Supply Salaries Payable Dividends Payable Insurance Expense Prepaid Insurance Uneamed Revenue Stock Dividends Interest Expense Distributable Land Bank Loan Payable Los from Impairment of Goodwill Buildings Mortgage Payable Purchase Acc. Depreciation - Bood Payable Rent Expense Buildings Equipment Long-term Notes Salary Expense Payable Ace. Depreciation Equipment Supply Expense Goodwill Utility Expense Patents Licenses 16 19

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