The accounts receivable balance for Renue Spa at December 31, Year 1, was $83,000. Also on that date, the balance in the Allowance for Doubtful Accounts was $2,100. During Year 2, $1,900 of accounts receivable were written off as uncollectible. In addition, Renue unexpectedly collected $140 of receivables that had been written off in a previous accounting period. Services provided on account during Year 2 were $211,000, and cash collections from receivables were $212,936. Uncollectible accounts expense was estimated to be 1 percent of the sales on account for the period. Required: a. Record the transactions in general Journal form and post to T-accounts b. Based on the preceding information, compute (after year-end adjustment); (1) Balance of allowance for doubtful accounts at December 31, Year 2. (2) Balance of accounts receivable at December 31, Year 2 (3) Net realizable value of accounts receivable at December 31, Year 2. c. What amount of uncollectible accounts expense will Renue report for Year 2? Complete this question by entering your answers in the tabs below. Required A Required AT General Accounts Required B Required c Journal Record the transactions in general Journal form. (If no entry is required for a transaction/event, select "No joumal entry required in the first account field.) View transaction list Journal entry worksheet B D E F Required A General Journal Required AT Accounts Required B Required C Record the transactions in general journal form. (If no entry is required for a transa first account field.) View transaction list :X: A Record entry for uncollectible accounts written off. B Record entry for reinstated previously written-off accounts. C Record entry for collected reinstated accounts. D Record services on account. Credit E Record entry for collection of accounts receivable. F Record entry for uncollectible accounts expense. Note: journal entry has been entered Record entry Clear entry View general jour Record the transactions in post to T-accounts. Cash Service Revenue Beg. Bal. Beg. Bal. End. Bal. End. Bal. Accounts Receivable Uncollectible Accounts Expense Beg. Bal. Beg. Bal. 0 End. Bal. 0 End. Bal Allowance for Doubtful Accounts Beg. Bal. End. Bal. Bored answers in the tabs below Required A General Journal Required AT Accounts Required B Required C Based on the preceding information, compute (after year-end adjustment): (1) Balance of allowance for doubtful accounts at December 31, Year 2. (2) Balance of accounts receivable at December 31, Year 2. (3) Net realizable value of accounts receivable at December 31, Year 2. (1) Allowance for doubtful accounts (2) Accounts receivable (3) Net realizable value er 3 c. What amount of uncollectible accounts expense will Renuer Complete this question by entering your answers in the t. Required A General Journal Required AT Accounts Required B Required C What amount of uncollectible accounts expense will Renue report Uncollectible accounts expense
