PART C:

Future Mart uses an aging schedule to determine its estimated uncollectible accounts. The

following information shows the amounts of receivables at the end of March and April:

Additional information:

i$)$ At the end of March there was an unadjusted credit balance of $$500$ in allowance

for doubtful accounts.

ii$)$ On April $10{10}^{th},$$$5,000$ of accounts were deemed to be uncollectible and written off

iii$)$ On April ${15}^{th},$ we received payment of $$1,000$ from a customer. This account had

been previously written off.

Instructions:

a$)$ Prepare the aging schedule to show the amount of uncollectible accounts on March

${31}^{st}$

b$)$ Prepare the journal entry to record bad debt expenses at the end of March.

c$)$ Prepare the journal entry for April ${10}^{2h}$

d$)$ Prepare the journal entry for April ${15}^{hi}$

e$)$ Update the amount in Allowance for Doubtful Accounts for April using a T$-$Account.

$($Start with the unadjusted credit balance of $500$ and show all changes to the account

from b$)-$ d$)$ above$).$

f$)$ Prepare the aging schedule to show the amount of uncollectible accounts on April ${30}^{mi}$

g$)$ Prepare the journal entry to record bad debt expense at the end of April

h$)$ Prepare the balance sheet presentation of Future Mart's account receivables

$($ONLY the account receivables part of the balance sheet$)$