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solve requirement 2 please. make the chart exactly like it is dont make it confusing please. On June 30, Premier Party Planners had a $35,000
solve requirement 2 please. make the chart exactly like it is dont make it confusing please.
On June 30, Premier Party Planners had a $35,000 balance in Accounts Recelvabie and a $2,752 credit balance in Allowance for Uncollectble 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 returns are expected. Ignore cost of goods sold. Read the requirements. (d) Finally, record the entry to journalize the uncolectible-account expense. Requirement 2. Show the ending balances in Accounts Receivablo, Allowance for Uncoliectible 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.) Step by Step Solution
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