The accounts receivable balance for Renue Spa at December 31, Year 1, was $84.000. Also on that date, the balance in the Allowance for Doubtful Accounts was $2,500 During Year 2, $2,600 of accounts receivable were written off as uncollectible In addition, Renue unexpectedly collected $100 of receivables that had been written off in a previous accounting period Services provided on account during Year 2 were $217.000, and cash collections from receivables were $218,991 Uncollectible accounts expense was estimated to be 1 percent of the sales on account for the period Required: o. Record the transactions in general joumal 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 General Required AT Required B Required Journal Accounts Record the transactions in general journal form. (If no entry is required for a transaction/event, first account field.) View transaction list Journal entry worksheet Record entry for collected reinstated accounts. Note: Enter debits before credits Transaction General Journal Debit Credit 2b Record entry Clear entry View general journal Reques A Gun JIRA Required AT Accounts Required A General Required AT Accounts Required B Journal Required Record the transactions in general journal form. (If no entry is required for a transaction/event, select first account field.) View transaction list Journal entry worksheet A F B D Record entry for collection of accounts receivable. Note: Enter debits before credits. Debit Credit Transaction General Journal Record entry Clear entry View general journal Required General Journa Required A T Account View transaction list Journal entry worksheet B D E 5. Record entry for uncollectible accounts expense. Note: Enter debits before credits General Journal Debit Credit Transaction 05 Record entry Clear entry View general journal Rod A Gaur Required A T Accounts Required A General Required by Accounts Required B Journal Required Record the transactions in post to T-accounts. Cash Beg Bal Service Revenue Beg Bal End Bal End Bal Accounts Receivable Beg Bal Uncollectible Accounts Expense Beg Bal End Bal End Bal Allowance for Doubtful Accounts Beg Bal End Bal Complete this question by entering your answers in the tabs below. Required A Required AT General Accounts Required B Required C Journal 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 Complete this question by entering your answers in the tabs be Required A General Journal Required AT Accounts Required B Required c What amount of uncollectible accounts expense will Renue report for Year Uncollectible accounts expense
