Only Requirement #4. third picture are the choices of accounts. All of other answers are correct regarding this question.

Express Corporation is an overnight shipper. At year-end, Express ended with the foregoing December 31, 2019, balances. Read the a. Service revenue was $40,000 million, of which 14% is cash and the remainder is on account. b. Collections from customers on account were $32,411 million. More info Since it sells on credit, the company cannot expect to collect 100% of its accounts receivable. At December 31, 2018, and 2019, respectively, Express reported the followina on its balance sheet (in millions of dollars): During the year ended December 31, 2019, Express earned service revenue and collected cash from customers. Assume uncollectible-account expense for the year was 2% of service revenue on account and that Express wrote off uncollectible receivables and made other adjustments as necessary. Requirements 1. Journalize the following transactions of Express for the year ended December 31 , 2019 (explanations are not required): a. Service revenue was $40,000 million, of which 14% is cash and the remainder is on account. b. Collections from customers on account were $32,411 million c. Uncollectible-account expense was 2% of service revenue on account. d. Write-offs of uncollectible accounts receivable were $738 million e. On December 1, Express received a 2-month, 6%, $600 million note receivable from a large corporate customer in exchange for the customer's past due account Express made the proper year-end adjusting entry for the interest on this note. f. Express's December 31, 2019, year-end bank statement reported $49 million of non-sufficient (NSF) checks from customers. 2. T-accounts for Accounts Receivable and Allowance for Uncollectible Accounts have been opened. Insert the December 31, 2018, balances as given. Post your entries to the Accounts Receivable and Allowance for Uncollectible Accounts T-accounts. 3. Compute the ending balances for Accounts Receivable and the Allowance for Uncollectible Accounts and compare your balances to the actual December 31, 2019, amounts. They should be the same. How much does Express expect to collect from its customers after December 31, 2019? 4. Show the net effect of these transactions on Express's net income for the year ended December 31, 2019. d. Write-offs of uncollectible accounts receivable were $738 million. First record the note in exchange for the past due account. (Do not record the interest accrual, we will do that in the next step.) f. Express's December 31,2019, year-end bank statement reported $49 million of non-sufficient (NSF) checks from customers. Accounts receivable Allowance for uncollectible accounts Interest revenue Service revenue Uncollectible-account expense