The general ledger of Pop's Fireworks includes the following account balances in 2021: Credit $ 22,600 45,000 $ 3,600 8,800 24,000 92,000 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Supplies Notes Receivable (8%, due in 2 years) Land Accounts Payable Common Stock Retained Earnings Service Revenue Salaries Expense Utilities Expense Supplies Expense Totals 13,700 134,000 30,600 126,200 71,600 26,300 17,800 $308,100 $308,100 In addition, the following transactions occurred during 2021 and are not yet reflected in the account balances above: June 3 Provide additional services on account for $14,000. All services on account include terms 2/10, n/30. June 8 Receive cash from customers within 10 days of the services being provided on account. The customers were originally charged $8,500. November 15 Write off customer accounts of $4,300 as uncollectible. The following information is available on December 31. a. Estimate that 10% of the balance of accounts receivable (after the transactions listed above) will not be collected. b. Accrue interest on the note receivable of $24,000, which was accepted on October 1, 2021. Interest is due each September 30. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis 1. Record each of the transactions listed above in the 'General Journal' tab. Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record the adjusting entries in the 'General Journal' tab. 3. Review the adjusted 'Trial Balance' as of December 31, 2021, in the 'Trial Balance' tab. 4. Prepare an income statement for the period ended December 31, 2021, in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of December 31, 2021 in the 'Balance Sheet' tab. 6. Record the closing entries in the 'General Journal' tab. 7. Using the information from the requirements above, complete the 'Analysis' tab. Requirement Requirement General Journal se cond General Ledger se Trial Balance Trial Balance Income Statement stencomente Balance Sheet Balance Sheet Analysis analysi Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 Record the services provided to customers on account, $14,000. Note: Enter debits before credits. Date General Journal Debit Credit Jun 03, 2021 Record entry Clear entry View general journal Journal entry worksheet
