The accounts recelvable balance for Renue Spa at December 31, Year 1, was $61,000. Also on that date, the balance in the Allowance for Doubtful Accounts was $3,750. During Year 2, $2,100 of accounts recelvable were written off as uncollectible in addition, Renue unexpectedly collected $500 of receivables that had been written off in a previous accounting period, Services provided on account during Year 2 were $215,000, and cash collections from recelvables were $218,000. Uncollectible accounts expense was estimated to be 2 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 yeat-end adjustment): (1) Balance of allowance for doubtful accounts at December 31, Year 2. (2) Balance of accounts recelvable at December 31, Year 2. (3) Net realizable value of accounts recelvable 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. Record the transoctions in general journal form. (if no entry is required for a transactionievent, select "No journal entry requ red" in the first account field.) unexpectedly collected $500 of receivables that had been written off in a previous accounting period. during Year 2 were $215,000, and cash collections from receivables were $218,000. Uncollectible account be 2 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 recelvable 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. What amount of uncollectible accounts expense will Renue report for Year 2 ? Complete this question by entering your answers in the tabs below. Post the transactions to T-accounts. The accounts recelvable balance for Renue Spa at December 31, Year 1, was $61,000. Also on that date, the balance in the Allowance for Doubtful Accounts was $3,750. During Year 2, \$2,100 of accounts recelvable were written off as uncollectible. In addition, Renue unexpectedly collected $500 of receivables that had been written off in a previous accounting period. Services provided on account during Year 2 were $215,000, and cash collections from recelvables were $218,000. Uncollectible accounts expense was estimated to be 2 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 doubtfut accounts at December 31, Year 2. (2) Balance of accounts receivable at December 31, Year 2. (3) Net realizable value of accounts recelvable 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. Based on the preceding information, compute (after year-end adjustment): (1) Batance of allowance for doubtful accounts at December 31, Year 2 . (2) Balance of accounts recelyable at December 31 , Vear 2. (3) Net realizable value of accounts receivable at December 31, Vear 2
