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PLEASE HELP WILL RATE THUMBS UP IF CORRECT At December 31, 2021, Spring Break Travel has an Accounts Receivable balance of $90,000. Allowance for Uncollectible
PLEASE HELP WILL RATE THUMBS UP IF CORRECT
At December 31, 2021, Spring Break Travel has an Accounts Receivable balance of $90,000. Allowance for Uncollectible Accounts has a credit balance of $820 before the year-end adjustment. Service revenue (all on account) for 2021 was $450,000. Spring Break estimates the its uncollectible-account expense for the year is 4% of service revenue. Read the requirement. Requirement Exclude explanations from any, 1. Make the year-end entry to record uncollectible-account expense. Show how Accounts Receivable and Allowance for Uncollectible Accounts are reported on the balance sheet at December 31, 2021 . alance sheet at December 31, 2021 At December 31, 2021, Spring Break Travel has an Accounts Receivable balance of $90,000. Allowance for Uncollectible Accounts has a Make the year-end entry to record uncollectible-account expense. (Record debits first, then credits. Exclude explanations from any journai entries.) Step by Step Solution
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