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Premier expects to collect...?? On June 30, Premier Party Planners had a $35,000 balance in Accounts Receivable and a $2,752 credit balance in Allowance for

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On June 30, Premier Party Planners had a $35,000 balance in Accounts Receivable and a $2,752 credit balance in Allowance for Uncollectible Accounts. During July, Premier made credit sales of $193,000. July collections on account were $164,000, and write-offs of uncollectible receivables totaled $2,870. Uncollectible-accounts expense is estimated as 3% of credit sales. No sales retums are expected. Ignore cost of goods sold. Read the requirements. (d) Finally, record the entry to journalize the uncollectible-account expense. Requirement 2. Show the ending balances in Accounts Receivable, Allowance for Uncollectible Accounts, and Net Accounts Receivable at July 31. How much does Premier expect to collect? In the following T-accounts, enter the beginning balances, the adjusting entries and compute the ending balances. (Enter the corresponding letter as the posting reference.) Compute the net accounts receivable at July 31. The net accounts receivable at July 31 is Premier expects to collect

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