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The following transactions were completed by Emmanuel Company during the current fiscal year ended December 31 Jan Apr Aug Nov 29 Received 40% of the

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The following transactions were completed by Emmanuel Company during the current fiscal year ended December 31 Jan Apr Aug Nov 29 Received 40% of the $17.000 balance owed by Jankovich Co a bankrupt business, and wrote of the remainder as uncollectible 18 Reinstated the account of Vince Karm, which had been witten off in the preceding year as uncollectible journalized the receipt of 57,560 cash in full payment of Karm's account 9 Wrote of the $22380 balance owed by Golden Stallion Co, which has no assets 7 Reinstated the account of Wiley Co.which had been written off in the preceding year as uncollectible Journalized the receipt of $13,220 cash in full payment of the account 31 Wrote of the following accounts as uncollectible (one entry) Claire Moon Inc. $22,860, Jet Set Co. $15,320. Randall Distributors $41 460, Harmonic Audio, $18,890 31 Based on an analysis of the $2.740,000 of accounts receivable, it was estimated that $113,330 will be uncollectible. Joumalized the adjusting entry Dec Required: 1. Record the January 1 credit balance of $102,380 in a Taccount for Allowance for Doudoul Accounts 2 a Journalize the transactions. For the December 31 adjusting entry, assume the $2,740,000 balance in accounts receivable reflects the adjustments made during the year Refer to the chart of accounts for the exact wording of the account nties CNOWjournals do not use anes for journal explanations. Every line on a journal page is used for debitor credit entries CNOW journals will automatically inderit a credit entry when a credit amount is entered 1. Post each entry that affects the following selected T accounts and determine the new balances Arowance for Doubtful Accounts and Bad Debt Expense 3. Determine the expected retreatzabte value of the accounts receivable as of December 31 (after all of the adjustments and the adjusting entry) 4 Assuming that instead of basing the provision for uncollectible accounts on an analysis of receivables the adusting entry on December 31 had Check My Work more Check My Work uses remaining

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