The following accounts were3 abstracted from Starr Co.'s unadjusted trail balance at December 31, 2010: Starr estimates that 2% of the gross accounts receivable will become uncollectible. After adjustment at December 31, 2010, the allowances for uncollectible accounts should have a credit balance of A) $52,000. B) $15,000. C) $60,000. D) $23,000. If the month-end bank statement shows a balance of $36,000. outstanding checks are $12,000. a deposit of $4,000 was in transit at month end. and a check for $500 was erroneously charged by the bank against the account, the correct balance in the bank account at month end is A) $20, 500. B) $43, 500. C) $28, 500. D) $27, 500. Beeman Company exchanged machinery with an appraised value of $1, 755,000, a recorded cost of $2, 700,000 and Accumulated Depreciation of $1, 350,000 with Lacey Corporation for machinery Lacey owns. The machinery has an appraised value of $1, 695,000, a recorded cost of $3, 240,000, and Accumulated Depreciation of $1, 782,000. Lacey also gave Beeman $60,000 in the exchange. Assume depreciation has already been updated. (a) Prepare the entries on both companies' books assuming that the exchange had commercial substance