Question $7($Receivables$)(70$ points$)$

Swanson Horticultural Distributors had $2023$ sales of $$16,500,000,$ all of which were sales

on credit. At the end of the year, their accounts receivable were $$1,308,200.$ Here is an

aging table of these receivables:

Swanson Horticultural Distributors

Expected Amount of Accounts Receivable that is Uncollectible

As of December $31,2023$

a$)$ Complete the Expected Uncollectible Amount column above

b$)$ Journalize the following

a$.$ The bad debts expense and allowance for doubtful accounts as of December

$31,2023.$

b$.$ The write$-$off of a $$12,256$ receivable from the customer Sky Nursery on April

$5$

c$.$ On August $15,$ Sky Nursery surprisingly paid $50\%$ of their original receivable

$($that was written off on April $5),$ and also agreed to a Note Payable $($a Note

Receivable for Swanson$)$ for the remaining balance $($Hint: this entry will

require five lines$)$

d$.$ At the end of $2024,$ assume that Swanson estimated an expected

uncollectible amount of $$95,000,$ but that there was a $$6,000$ debit balance

in their allowance account. Journalize the bad debt expense and allowance

amount as of December $31,2024.$

e$.$ The August $15,{2024}_{?}$ Note Receivable from Sky Nursery is payable in one year

and carries an interest rate of $6\mathrm{.}0\%.$ Enter the accrued interest revenue as of

December $31,2024.$