The June 30, 2013 balance sheet of the Upham Company included the following information:

Accounts receivable		$273,000
Less: Allowance for doubtful accounts		(12,400)		$260,600
Notes receivable*				23,900
Total receivables				$284,500

*The company has a recourse liability of $2,700 for notes receivable sold with recourse.

During the companys fiscal year ending June 30, 2014, the following transactions occurred:

1.	Sales on credit	$878,500
2.	Collections of accounts receivable	834,400
3.	Accounts receivable written off as uncollectible	17,200
4.	Customer notes received in payment of accounts receivable	65,000
5.	Notes receivable collected	28,000
6.	Notes receivable, previously sold with recourse, were paid at maturity.
	The associated recourse liability for this note is $500.	42,000
7.	Notes receivable were defaulted.	2,270
8.	Collections on accounts previously written off	450
9.	Sales returns and allowances (on credit sales)	1,500
10.	Bad debts were estimated to be 1.5% of credit sales

question

1. Prepare journal entries necessary for Upham to record the preceding transactions.

(1)	Accounts Receivable	$......
	Sales		$......
(2)	Cash	$......
	Accounts Receivable		$......
(3)	Allowance for Doubtful Accounts	$......
	Accounts Receivable		$......
(4)	Notes Receivable	$......
	Accounts Receivable		$......
(5)	Cash	$......
	Notes Receivable		$......
(6)	Recourse Liability	$......
	Loss on Sale of Receivables		$......
(7)	Notes Receivable Dishonored	$......
	Cash		$......
(8)	Accounts Receivable	$......
	Allowance for Doubtful Accounts		$......
	Cash	$......
	Accounts Receivable		$......
(9)	Sales Returns and Allowances	$......
	Accounts Receivables		$......

(10)	Bad Debt Expense	$.......
	Allowance for Doubtful Accounts		$.......

2. Prepare an analysis and schedule that shows the amounts of the accounts receivable.

Accounts Receivable

6 / 30 / 13 bal.	$.......	Transaction 2	$.......
Transaction 1	$.......	Transaction 3	$.......
Transaction 8 (First Entry)	$.......	Transaction 4	$.......
		Transaction 8 (Second Entry)	$.......
		Transaction 9	$.......
6 / 30 / 14 bal.	$.......

Prepare an analysis and schedule that shows allowance for doubtful accounts.

Allowance for Doubtful Accounts

Transaction 3	$........	6 / 30 / 13 bal.	$........
		Transaction 8 (First Entry)	$........
		Transaction 10	$........
		6 / 30 / 14 bal.	$........

Prepare an analysis and schedule that shows notes receivable.

Notes Receivable

6 / 30 / 13 bal.	$........	Transaction 5	$........
Transaction 4	$........
6 /30 / 14 bal.	$........

Prepare an analysis and schedule that shows notes receivable dishonored accounts that will be disclosed on Upham's June 30, 2014 balance sheet.

Notes Receivable Dishonored

Transaction 7	$..........
6 / 30 / 14 bal.	$..........