OPTIONS:
Use the information from the following journal entries to answer the questions about Quartz Inc. for 2017. (Click the icon to view the journal entries.) 1. Start with the Account Receivable's beginning balance, ($91,000) and then post to the Account Receivable T-account. How much do Quartz's customers owe the company at December 31, 2017? 2. Start with the Allowance account's beginning credit balance, ($15,500) and then post to the Allowance for Uncollectible Accounts T-account. How much of the receivables at December 31, 2017, does the company expect not to collect? 3. At December 31, 2017, what is the net realizable value of the company's accounts receivable? Requirement 1. Start with the Account Receivable's beginning balance ($91,000) and then post to the Account Receivable T-account. How much do Quartz's' customers owe the company at December 31, 2017? (Leave any unused cells blank.) Accounts Receivable Using the T-account you prepared above, how much is the company owed at December 31, 2017? $ Requirement 2. Start with the Allowance account's beginning credit balance ($15,500) and then post to the Allowance for Uncollectible Accounts T-account. How much of the receivables at December 31, 2017, does the company expect not to collect? (Leave any unused cells blank.) Allowance for Uncollectible Accounts Journal Entry Accounts Credit Debit 1,040,000 1. Accounts Receivable Sales Revenue 1,040,000 2. Cash 905,000 Accounts Receivable 905,000 11,000 3. Allowance for Uncollectible Accounts Accounts Receivable 11,000 9,000 4. Bad Debt Expense Allowance for Uncollectible Accounts 9,000 Requirement 1. Start with the Account Receivable's be the company at December 31, 2017? (Leave any unut Accounts Receivable Beg. Bal. Collections End. Bal. Net credit sales Write-offs ou prepared above, how much is with the Allowance account's beg per 31, 2017, does the company Allowance for Uncollectible Accounts Beg. Bal. End. Bal. Expense Write-offs y list or enter any number in the Use the information from the following journal entries to answer the questions about Quartz Inc. for 2017. (Click the icon to view the journal entries.) 1. Start with the Account Receivable's beginning balance, ($91,000) and then post to the Account Receivable T-account. How much do Quartz's customers owe the company at December 31, 2017? 2. Start with the Allowance account's beginning credit balance, ($15,500) and then post to the Allowance for Uncollectible Accounts T-account. How much of the receivables at December 31, 2017, does the company expect not to collect? 3. At December 31, 2017, what is the net realizable value of the company's accounts receivable? Requirement 1. Start with the Account Receivable's beginning balance ($91,000) and then post to the Account Receivable T-account. How much do Quartz's' customers owe the company at December 31, 2017? (Leave any unused cells blank.) Accounts Receivable Using the T-account you prepared above, how much is the company owed at December 31, 2017? $ Requirement 2. Start with the Allowance account's beginning credit balance ($15,500) and then post to the Allowance for Uncollectible Accounts T-account. How much of the receivables at December 31, 2017, does the company expect not to collect? (Leave any unused cells blank.) Allowance for Uncollectible Accounts Journal Entry Accounts Credit Debit 1,040,000 1. Accounts Receivable Sales Revenue 1,040,000 2. Cash 905,000 Accounts Receivable 905,000 11,000 3. Allowance for Uncollectible Accounts Accounts Receivable 11,000 9,000 4. Bad Debt Expense Allowance for Uncollectible Accounts 9,000 Requirement 1. Start with the Account Receivable's be the company at December 31, 2017? (Leave any unut Accounts Receivable Beg. Bal. Collections End. Bal. Net credit sales Write-offs ou prepared above, how much is with the Allowance account's beg per 31, 2017, does the company Allowance for Uncollectible Accounts Beg. Bal. End. Bal. Expense Write-offs y list or enter any number in the
