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Perform the following accounting for the receivables of Harper and Murphy, an accounting firm, at December 31, 2017. Perform the following accounting for the receivables
Perform the following accounting for the receivables of Harper and Murphy, an accounting firm, at December 31, 2017.
Perform the following accounting for the receivables of Bronson and Moore, an accounting firm, at December 31, 2017 Requirements Requirements 1 and 2. Let's prepare the T-accounts for accounts receivable and allowance for uncollectible accounts. (Leave any unused cells blank.) Accounts Receiva Allowance for Uncollectible Accounts Beg bal Beg bal End bal Endal Requirement 3. Show two ways Bronson and Moore could report accounts receivation is balance sheet December 31, 2017. Use parentheses or a minus sign to indicate numbers to be subtracted Now, let's show an allemate method of reporting accounts receivable on the balance sheet at December 31, 2017 Requirements 1. Start with the beginning balances for these T-accounts: Accounts Receivable, $81,000 Allowance for Uncollectible Accounts, $9,000 Post the following 2017 transactions to the T-accounts: a. Service revenue of $859,000, all on account b. Collections on account, $796,000 c. Write-offs of uncollectible accounts, $5,000 d. Bad debt expense (allowance method), $10,000 What are the ending balances of Accounts Receivable and Allowance for Uncollectible Accounts? 3. Show two ways Bronson and Moore could report accounts receivable on its balance sheet at December 31, 2017 2. W Print Done at December 31, 2017 Perform the following accounting for the receivables of Bronson and Moore, an accounting firm Requirements Requirements 1 and 2. Let's prepare the Taccounts for accounts receivable and allowance for uncollectible accounts. (Leave any unused cells blank.) Accounts Receivable Allowance for Uncollectible Accounts Bogbal Bad de exp. Collections Service revenge write-offs two ways Bronson and Moore could report accounts receivable on its balance sheet at December 31, 2017 IUse parentheses or a minus sign to indicate numbers to be subtracted.) Now, let's show an alternate method of reporting accounts receivable on the balance sheet at December 31, 2017 Perform the following accounting for the receivables of Bronson and Moore, an accounting firm, at December 31, 2017 Requirements Requirements 1 and 2 Let's prepare the accounts for accounts receivable and allowance for uncollectible accounts (Leave any unused cells blank.) Accounts Receivable Allowance for Uncollectible Accounts Begbal Beg bal Endbal Requirement 3. Show two ways Bronson and Moore could report accounts receivable on its balance sheet at December 31, 2017. Use parentheses counts receivable on the balance sheet at December 31, 2017 Accounts receivable Accounts recevabinet Bad debt expense Collections Credit sales Less: Allowance for uncollectible accounts Loss Bad debt expense Write-offs Step by Step Solution
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