The accounts receivable balance for Renue Spa at December 31, Year 1, was $85,000 Also on that date, the balance in the Allowance for Doubtful Accounts was $2,700 Total retained earnings at the end of Year 1 was $82,300 During Year 2, $2,100 of accounts receivable were written off as uncollectible In addition, Renue unexpectedly collected $160 of receivables that had been written off in a previous accounting period Services provided on account during Year 2 were $219,000, and cash collections from receivables were $221,009 Uncollectible accounts expense was estimated to be 1 percent of the sales on account for the period Required a Organize the information in accounts under an accounting equation b Based on the preceding information, compute (after year end adjustment) 1 (1) Balance of Allowance for Doubtful Accounts at December 31, Year 2 2 (2) Balance of Accounts Receivable at December 31, Year 2 3 (3) Net realizable value of Accounts Receivable at December 31, Year 2 c What amount of uncollectible accounts expense will Renue Spa record for Year 2 Complete this question by entering your answers in the tabs below Req A Req B and C Organize the information in accounts under an accounting equation (Enter any decreases to account balances with a minus sign If there is no effect on the Accounts Titles for Retained Earnings, leave the cell blank Not all cells will require entry ) Show less RENUE SPA Horizontal Statements Model Assets Equity NRV Liabilities Retained Cash Accounts Receivable Earnings Event Accounts Titles for Retained Earnings Bal 1 2a 2b 3 4 5 Bal Req A Req B and C Req B Req A and 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 What amount of uncollectible accounts expense will Renue Spa record for Year 2 Show less A b Allowance for doubtful 1 accounts b 2 Accounts receivable b Net realizable value 3 Uncollectible accounts expense

Question

The accounts receivable balance for Renue Spa at December 31, Year 1, was $85,000  Also on that date, the balance in the Allowance for Doubtful Accounts was $2,700  Total retained earnings at the end of Year 1 was $82,300  During Year 2, $2,100 of accounts receivable were written off as uncollectible  In addition, Renue unexpectedly collected $160 of receivables that had been written off in a previous accounting period  Services provided on account during Year 2 were $219,000, and cash collections from receivables were $221,009  Uncollectible accounts expense was estimated to be 1 percent of the sales on account for the period  Required a  Organize the information in accounts under an accounting equation  b  Based on the preceding information, compute (after year end adjustment)  1  (1) Balance of Allowance for Doubtful Accounts at December 31, Year 2  2  (2) Balance of Accounts Receivable at December 31, Year 2  3  (3) Net realizable value of Accounts Receivable at December 31, Year 2  c  What amount of uncollectible accounts expense will Renue Spa record for Year 2  Complete this question by entering your answers in the tabs below  Req A Req B and C Organize the information in accounts under an accounting equation  (Enter any decreases to account balances with a minus sign  If there is no effect on the Accounts Titles for Retained Earnings, leave the cell blank  Not all cells will require entry ) Show less RENUE SPA Horizontal Statements Model Assets Equity NRV   Liabilities   Retained Cash   Accounts Receivable Earnings   Event Accounts Titles for Retained Earnings         Bal  1  2a  2b  3  4  5  Bal          Req A Req B and C  Req B Req A and 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  What amount of uncollectible accounts expense will Renue Spa record for Year 2  Show less A b  Allowance for doubtful 1  accounts b  2  Accounts receivable b  Net realizable value 3  Uncollectible accounts expense

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The accounts receivable balance for Renue Spa at December 31, Year 1, was $85,000. Also on that date, the balance in the Allowance for Doubtful

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