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Perform the following accounting for the receivables of Evans and Tanner, a law firm, at December 31, 2016 Read the equirements Requirements 1 and 2.
Perform the following accounting for the receivables of Evans and Tanner, a law firm, at December 31, 2016 Read the equirements Requirements 1 and 2. Start with the beginning balances for these T-accounts: Accounts Receivable, $98,000, Allowance for Uncollectible Accounts, $10,000. Post the following 2016 transactions to the T-accounts: a. Service revenue of $696,000, all on account b. Collections on account, $715,000 c. Write-offs of uncollectible accounts, S13,000 d. Uncollectible-account expense (allowance method), $12,000. What are the ending balances of Accounts Receivable and Allowance for Uncollectible Accounts? Prepare the T-accounts for accounts receivable and allowance for uncollectible accounts. (Abbreviation used: Beg bal expense.) Beginning balance; End bal Ending balance; Uncoll acct exp Uncollectible account Accounts Receivable Allowance for Uncollectible Accounts
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