The general ledger of Pop's Fireworks includes the following account balances in 2021: Credit Debit $ 21,800 43,000 $ 2,800 7,600 16,000 88,000 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 12,900 118,000 30, 200 125,400 71,200 25,100 16,600 $289,300 $289,300 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 $10,000. 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 $6,500. November 15 Write off customer accounts of $2,700 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 $16,000, 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 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 Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entr Required" in the first account field.) View transaction list Journal entry worksheet Record the interest accrued on note receivable. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31, 2021 Cash Sales Discounts Record entry Clear entry View general Journal Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Jour Required" in the first account field.) View transaction list Journal entry worksheet Record the closure of revenue accounts. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31, 2021 Record entry Clear entry View general Journal View transaction list Journal entry worksheet Record the closure of expense accounts. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31, 2021 Record entry Clear entry View general Journal June 3 Provide additional services on account for $10,000. 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 $6,500. November 15 Write off customer accounts of $2,700 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 $16,000, which was accepted on October 1, 2021. Interest is due each September 30. General General Income Requirement Journal Trial Balance Analysis Ledger Balance Sheet Statement ---- Choose the appropriate accounts to complete the company's income statement. Select 'adjusted' from the dropdown, which will then populate the balances in those accounts from the adjusted trial balance. Adjusted Pop's Fireworks Income Statement For Month Ended December 31, 2021 Revenue: 0 0 0 0 $ 0 Total Revenue Expenses: Total Expenses 0 0 $ November 15 Write off customer accounts of $2,700 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 $16,000, 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 Choose the appropriate accounts to complete the company's balance sheet. Make sure to select 'adjusted' from the dropdown, which will then populate the balances in those accounts from the adjusted trial balance. Adjusted Pop's Fireworks Balance Sheet December 31, 2021 Assets Liabilities Current Assets: Current Liabilities: $ 0 0 0 0 0 Total Current Liabilities 0 Total Current Assets 0 Total Liabilities 0 Long-term assets: Stockholders' Equity 0 0 0 0 Total Stockholders' Equity 0 Total Liabilities & Stockholders' Equity Total Assets $ $ 0 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 $16,000, which was accepted on October 1, 2021. Interest is due each September 30. Income Requirement General Journal General Ledger Trial Balance Balance Sheet Statement Analysis Using the information from the requirements in the previous tabs, complete the 'Analysis' tab. Analyze the following information: (a) By how much does the year-end estimate of future uncollectible accounts reduce net income in 2021? Bad Debt Expense (b) What is the ending balance of Allowance for Uncollectible Accounts? Ending Balance of Allowance for Uncollectible Accounts (c) What amount of cash is expected to be collected from accounts receivable? Amount expected to be collected Sheet