Prepare the journal entries necessary for Upham to record the transactions for fiscal year ended June 30, 2017.Additional Information PAGE 20 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Upham Companys June 30, 2016, balance sheet included the following information:

Upham Company

Partial Balance Sheet

June 30, 2016

1	Accounts Receivable	$220,000.00
2	Less: Allowance for Doubtful Accounts	(14,900.00)	$205,100.00
3	Notes Receivable		20,100.00
4	Total Receivables		$225,200.00
5	* The company has a recourse liability of $2,500 for notes receivable sold with recourse.

During the companys fiscal year ending June 30, 2017, the following transactions occurred:

1.	Sales on credit	$871,400
2.	Collections of accounts receivable	844,600
3.	Accounts receivable written off as uncollectible	13,700
4.	Customer notes received in payment of accounts receivable	71,000
5.	Notes receivable collected	26,000
6.	Notes receivable, previously sold with recourse, were paid at maturity. The associated recourse liability for this note is $750.	36,000
7.	Notes receivable were defaulted	2,500
8.	Collections on accounts previously written off	400
9.	Bad debts were estimated to be 1.5% of credit sales

Required:
1.	Prepare the journal entries necessary for Upham to record the preceding transactions.
2.	Prepare an analysis and schedule that shows the amounts of the accounts receivable, allowance for doubtful accounts, notes receivable, and notes receivable dishonored accounts that will be disclosed on Uphams June 30, 2017, balance sheet.

X Analysis

Complete the schedule that shows the amounts of the accounts receivable, allowance for doubtful accounts, notes receivable, and notes receivable dishonored accounts that will be disclosed on Uphams June 30, 2017, balance sheet.Additional Information

Upham Company

Partial Balance Sheet

June 30, 2017

1	Accounts Receivable
2	Less: Allowance for Doubtful Accounts
3	Notes Receivable
4	Notes Receivable Dishonored
5	Total Receivables