The 2020, records Solo dude these acco 1 200 000 Accounts Recht Alco company bases and turn the balans harc force Accounts to corresponde chedule During the lost power of 2000, the company conted the following med Cena viheractions Homena 1, Recorte e olunca ele account the anal Record dette, then credits. Explanations are not required) aaraay Debt Cade Account Choose on torno anumites and then ck Check ance in Allowance for Uncollectible - x 0 Transactions in the jo 2020 Nov. 30 Wrote off as uncollectible the $1,300 account receivable from Red Carpets and the $800 account receivable from Old Timer Antiques Dec 31 One of its customers, Tiffany Ltd, agreed to sign a 60-day note receivable to replace the $1,600 accounts receivable due on that day. Dec 31 Adjusted the Allowance for Uncollectible Accounts and recorded Bad Debt Expense at year-end, based on the aging of receivables, which follows fields and the Age of Accounts 0 - 30 31-60 61 - 90 Over 90 Days Days Days Days $ 146.000 $ 37,000 $ 16,000 S 61.000 0.2% 0.5% 5.0% 30% Total Balance $260.000 Estimated uncollectible Print Done . 0 Requirements he 1. Record the transactions in the journal. Explanations are not required. 2. Prepare a T-account for Accounts Receivable and the Allowance for Uncollectible Accounts and post to those accounts 3. Show how Joulians would report its accounts receivable on a comparative balance sheet for 2019 and 2020. At December 31, 2019, the company's Accounts Receivable balance was $208,000 and the Allowance for Uncollectible Accounts stood at $3,800 Print Done and The October 1, 2020, records of Joulians Communications include these accounts: Accounts Receivable $ 260,000 (8,700) Allowance for Uncollectible Accounts The Odbor 1.2020 records de Comunications include the Accounts Receivable 5 260.000 Alwance Uncalible Acco (0.700) Ayear end the company species and adjust the balance in Allowance for Uncollectible Accounts to correspond to the aging schedule During the last quarter of 2020, the company completed the wingeded naction Requirement 1. Record the write-off of uncollectible accounts in the journal (Record debits first, then credits. Explanations are not required.) Journal Entry Accounts Debit Date Credit Nov - X Transactions n the jo 2020 Nov. 30 Wrote off as uncollectible the $1,300 account receivable from Red Carpets and the $800 account receivable from Old Timer Antiques Dec 31 One of its customers, Tiffany Ltd., agreed to sign a 60-day note receivable to replace the $1,600 accounts receivable due on that day Dec 31 Adjusted the Allowance for Uncollectible Accounts and recorded Bad Debt Expense at year-end, based on the aging of receivables, which follows as and th Total Balance $260.000 Estimated uncollectible Age of Accounts 0-30 31 - 60 61 - 90 Over 90 Days Days Days Days $ 146,000 5 37.000 $ 16,000 $ 61,000 02% 0.5% 5.0% 30% -X Requirements in the 1. Record the transactions in the journal. Explanations are not required. 2. Prepare a T-account for Accounts Receivable and the Allowance for Uncollectible Accounts and post to those accounts. 3. Show how Joulians would report its accounts receivable on a comparative balance sheet for 2019 and 2020. At December 31, 2019, the company's Accounts Receivable balance was $208,000 and the Allowance for Uncollectible Accounts stood at $3,800 Print Done ds and
