The October 1, 2020, records of First Data Communications include these accounts:
Accounts Receivable
$ 230,000
Allowance for Uncollectible Accounts
(8,500)
At year-end, the company ages its receivables and adjusts the balance in Allowance for Uncollectible Accounts to correspond to the aging schedule. During the last quarter of 2020, the company completed the following selected transactions:
Requirement 3. Show how First Data would report its accounts receivable on a comparative balance sheet for 2019 and 2020 . At $212,000 and the Allowance for Uncollectble Accounts stood at $4,200. (Use parentheses or a minus sign for numbers to be Next, record the 60-day note receivable Accounts Receivable Allowance for Uncollectible Accounts IClick the icon lo view the transattions:? Now, record the bad debt expense in the journal. Requirement 2. Prepare a T-account for Accounts Receivable and the Allowance for Uncollectible Accounts and post to those acce Open the T-account by posting the beginning balance. Then post the entries to the Allowance for Uncollectible Accounts T-account Requirement 1. Record the write-off of uncollectible accounts in the journal. (Record debits first, then credit: folemivg selected trimacteons: Requirement 3 . Show how First Data would report its accounts receivable on a comparative balance sheet for 201 $212,000 and the Allowance for Uncollectible Accounts stood at $4,200. (Use parentheses or a minus sign for n Transactions 2020 Nov, 30 Wrote off as uncollectible the $1,100 account receivable from Rainbow Carpets and the $600 account receivable from Show - N - Tell Antiques Dec. 31 One of its customers, Peplar Lid, agreed to sign a 60-day note receivable to replace the $1,500 accounts receivable due on that day. Dec. 31 Adjusted the Allowance for Uncollectible Accounts and recorded Bad Debt Expense at year-end, based on the aging of receivables. which follows Transactions 2020 Nov, 30 Wrote off as uncollectible the $1,100 account receivable from Rainbow Carpets and the $600 account receivable from Show - N - Tell Antiques Dec. 31 One of its customers, Peplar Lid, agreed to sign a 60-day note receivable to replace the $1,500 accounts receivable due on that day. Dec. 31 Adjusted the Allowance for Uncollectible Accounts and recorded Bad Debt Expense at year-end, based on the aging of receivables. which follows Requirement 3. Show how First Data would report its accounts receivable on a comparative balance sheet for 2019 and 2020 . At $212,000 and the Allowance for Uncollectble Accounts stood at $4,200. (Use parentheses or a minus sign for numbers to be Next, record the 60-day note receivable Requirements 1. Record the transactions in the journal. Explanations are not required. 2. Prepare a T-account for Accounts Receivable and the Allowance for Uncollectible Accounts and post to those accounts. 3. Show how First Data would report its accounts receivable on a comparative balance sheet for 2019 and 2020. At December 31, 2019, the company's Accounts Receivable balance was $212,000 and the Allowance for Uncollectible Accounts stood at $4,200. Requirements 1. Record the transactions in the journal. Explanations are not required. 2. Prepare a T-account for Accounts Receivable and the Allowance for Uncollectible Accounts and post to those accounts. 3. Show how First Data would report its accounts receivable on a comparative balance sheet for 2019 and 2020. At December 31, 2019, the company's Accounts Receivable balance was $212,000 and the Allowance for Uncollectible Accounts stood at $4,200. Now, record the bad debt expense in the journal The October 1, 2020, records of First Data Communications include these accounts: At year-end, the company ages its receivables and adjusts the balance in Allowance for Uncollectible Accounts to correspond to the ag following selected transactions (Click the icon to view the transactions.) Accounts Receivable Allowance for Uncollectible Accounts folemivg selected trimacteons
