Quick Delivery Corporation is an overnight shipper Click the loon to view additional formation) At year-end. Quick Delivery ended with the foregoing March 31, 2019, balances Read the rourement Requirement 1. Journalize the folowing transactions of Quick Delivery for the year ended March 31, 2018 explanations are not required) (Record debit first, then credits. Exclude axplanations from any joumal entries Enter amounts in millor as provided to you in the problement) Service revenue was $40.000 milion of which 14% cash and the remander is on account Journal Entry Accounts Debat Credit Collections to come out wore 532,670 Journal Entry Data Account Die Cred b Choose from wystarter any umber in the input fields and then continue to the next question (Click the icon to view additional information.) Read the require c. Uncollectible-account expense was 2% of service revenue on account. (Round your answer to the nearest million.) Journal Entry Date Accounts Debit Credit C d. Write-offs of uncollectible accounts receivable were $738 million. Journal Entry Date Accounts Debit Credit d - March 1 in Dennis month cen million natankohla from Inma amanta marin nunhance for the com Choose from any list or enter any number in the input fields and then continue to the next question. Click the loon to view additional information Read the requirements On March 1, Quick Delivery received a 2-month. 6. 20 million not receivable from a large corpore customer in exchange for the customer's past due account Quick Delivery made the proper your and adjusting entry for the rest on this role First record enote in exchange for the past due account. Do not record the interests, we will do that in the next step Journal Entry Date Account Debit Credit Journal Entry Account Die Debit Cret Choose from any list or enter any number in the folds and then continue to the next question Click the loon to view additional information) Read the res 1. Quick Delivery's March 31, 2019. year-end bank statement reported 567 million of non suficient (NSF) checks from customers Journal Entry Date Accounts ebit Credit Requirements 2 and 3. T-accounts for Accounts Receivable and Alowance for Uncollectible Accounts have been opened. Insert the March 31, 2018, balances as given. Post your entries to the Accounts Receivable and Alowance for Uncollectible Accounts Taccounts. Compute the ending balances for Accounts Receivable and The lowance for Uncolectible Accounts and compare your balances to teach March 31, 2010, amount. They should be the same. How much does Quick Delivery expect to collect from its customers ter March 31, 2010? (Enter mountain ons provided to you in the problem statement) Allowance to Accounts Receivable Uncollectible Accu Choose from any list of enter any number in the input fields and then continue to the next question Quick Delivery Corporation is an overight shiper Click the icon to view additional information) Read the girement Allowance for Unic Accounts Accounts Receivable Quick Delivery expects to co milion from the credit customers March 31, 2010 Requirement 4. Show the net etect of these transactions on Quick Delivery's net income for the year ended March 31, 2019. Enter amounts in ons as provided to you in the proti statement if a box is not used in the tableave the box embly, do not belantera se press ramis for expenses) Nonne income Choose from any list or enter any number in the routes and then continue to the next question Allowall More Info Uncollectible million from its credit cus Since it sells on credit, the company cannot expect to collect 100% of its accounts receivable. At March 31, 2018, and 2019, respectively, Quick Delivery reported the following on its balance sheet (in millions of dollars): March 31, 2019 2018 Accounts receivable $ 4,400 $ 3,800 Less: Allowance for uncollectible accounts (170) (220) Accounts receivable, net $ 4,230 3,580 During the year ended March 31, 2019, Quick Delivery earned service revenue and collected cash from customers. Assume uncollectible-account expense for the year was 2% of service revenue on account and that Quick Delivery wrote off uncollectible receivables and made other adjustments as necessary bu in the problem statem -actions on Quick Delivery arentheses or a minus sig Print Done Requirements Marc 1. Und a. Journalize the following transactions of Quick Delivery for the year ended March 31, 2019 (explanations are not required): Service revenue was $40,000 million, of which 14% is cash and the remainder is on account. b. Collections from customers on account were $32,879 million. c. Uncollectible-account expense was 2% of service revenue on account. d. Write-offs of uncollectible accounts receivable were $738 million. e. On March 1, Quick Delivery received a 2-month, 5%, $240 million note receivable from a large corporate customer in exchange for the customer's past due account; Quick Delivery made the proper year-end adjusting entry for the interest on this note. f. Quick Delivery's March 31, 2019, year-end bank statement reported $57 million of non-sufficient (NSF) checks from customers. T-accounts for Accounts Receivable and Allowance for Uncollectible Accounts have been opened. Insert the March 31, 2018, balances as given. Post your entries to the Accounts Receivable and Allowance for Uncollectible Accounts T-accounts. Compute the ending balances for Accounts Receivable and the Allowance for Uncollectible Accounts and compare your balances to the actual March 31, 2019, amounts. They should be the same. How much does Quick Delivery expect to collect from its customers after March 31, 2019? Show the net effect of these transactions on Quick Delivery's net income for the year ended March 31, 2019. lion from its c probl ions on Quick theses or an 2. 3. 4. put fields and Print Done