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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
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 25,109 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.) 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 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 Requirement General Journal General Trial Balance Income Statement Balance Sheet Analysis Ledger 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 Record the closure of expense accounts. Note: Enter debits before credits Date General Journal Debit Credit Dec 31, 2021 Record entry Clear entry View general journal
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