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Perform the following accounting for the receivables of Hawkins and Harriss, a law firm, at December 31, 2018. Read the requirements. Requirements 1 and 2.
Perform the following accounting for the receivables of Hawkins and Harriss, a law firm, at December 31, 2018. Read the requirements. Requirements 1 and 2. Start with the beginning balances for these T-accounts: Accounts Receivable, $94,000, Allowance for Uncollectible Accounts, $9,000. Post the following 2018 transactions to the T-accounts: Service revenue of $701,000, all on account Collections on account, $715,000 Write-offs of uncollectible accounts, $13,000 Uncollectible-account expense (allowance method), $15,000. What are the ending balances of Accounts Receivable and Allowance for Uncollectible Accounts? c. d. Prepare the T-accounts for accounts receivable and allowance for uncollectible accounts. (Abbreviation used: Beg bal = Beginning balance; End bal = Ending balance; Uncoll acct exp = Uncollectible account expense.) Accounts Receivable Allowance for Uncollectible Accounts Requirement 3. Show how Hawkins and Harriss will report accounts receivable on its balance sheet at December 31, 2018. Less
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