The post-closing trial balance of Earle Real Estate Appraisal at June 30, 2020 is provided. E: (Click the icon to view the post-closing trial balance.) Required Prepare a classified balance sheet at June 30, 2020. Use three columns for the amounts. - X Post-closing Trial Balance Complete the classified balance sheet using three columns. (Leave unused cells blank.) Earle Real Estate Appraisal Balance Sheet June 30, 2020 Earle Real Estate Appraisal Post-Closing Trial Balance June 30, 2020 Assets Current assets: Balance Debit Credit Account Title Cash $ 5,100 Accounts receivable 5,800 1,350 1,640 12.400 Total current assets 85,000 Property, plant, and equipment: Office supplies Prepaid insurance Land Building Accumulated amortizationbuilding Accounts payable Interest payable Salaries payable Unearned revenue Note payable E. Earle, capital 30,270 19,300 8,400 Less: 2,550 Total property, plant, and equipment 7,550 35,000 8,220 Total assets Liabilities 111,290 $ 111,290 Current liabilities: Total Print Done The post-closing trial balance of Earle Real Estate Appraisal at June 30, 2020 is provided. (Click the icon to view the post-closing trial balance.) Required Prepare a classified balance sheet at June 30, 2020. Use three columns for the amounts. - X Post-closing Trial Balance Total current assets Property, plant, and equipment: Earle Real Estate Appraisal Post-Closing Trial Balance June 30, 2020 Balance Debit Credit Less Account Title Cash $ 5,100 Total property, plant, and equipment Accounts receivable 5,800 Total assets 1,350 Liabilities 1,640 Current liabilities: 12.400 85,000 Office supplies Prepaid insurance Land Building Accumulated amortizationbuilding Accounts payable Interest payable Salaries payable Unearned revenue Note payable E. Earle, capital 30,270 19,300 8,400 2,550 Total current liabilities Long-term liabilities: 7,550 35,000 8,220 Total liabilities 111,290 $ 111,290 Total Owner's Equity Print Done Total liabilities and owner's equity Indicate whether each account listed below is a(n) asset (A), liability (L), owner's equity (OE), revenue (R), or expense (E) account. Accounts Receivable Computer Equipment S. Scott, Capital Rent Expense Supplies S. Scott, Withdrawals Salaries Expense Consulting Service Revenue Cash Notes Payable Supplies Expense Accounts Payable At December 31, 2020, the Accounts Receivable balance of White Electronics Inc is $340,000. The Allowance for Doubtful Accounts has a(n) $10,500 credit balance. Accountants for White Electronics Inc prepare the following aging schedule for its accounts receivable: (Click the icon to view the aging schedule.) Required 1. Journalize the adjusting entry for doubtful accounts based on the aging schedule. Show the T-account for the allowance at December 31, 2020. 2. Show how White Electronics Inc will report Accounts Receivable on its December 31, 2020, balance sheet. 3. Suppose all the facts of this situation are the same except that Allowance for Doubtful Accounts has a $1,200 debit balance. Calculate the amount of the adjusting entry. Requirement 1. Journalize the adjusting entry for doubtful accounts based on the aging schedule. Show the T-account for the allowance at December 31, 2020 Begin by journalizing the adjusting entry. (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Date Accounts Debit Credit Dec. 31 Now, prepare the T-account for Allowance for Doubtful Accounts. (If a box is not used in the T-account, leave the box empty; do not enter a zero. Abbreviations used Bal. = Balance, adj. = adjustments.) Allowance for Doubtful Accounts - X Aging Schedule Age of Accounts Receivable Requirement 2. Show how White Electronics Inc will report Accounts Receivable on its December 31, 2020, balance sheet. 1-30 31-60 61-90 Over 90 White Electronics Inc Balance Sheet (partial) December 31, 2020 Days $146,000 Days $86,000 Days $84.000 Days Total $24,000 $340,000 Accounts Receivable Estimated percent uncollectible Allowance Needed 0.5% 3.0% 8.0% 60.0% Print Done Choose from any list or enter any number in the input fields and then continue to the next question. At December 31, 2020, the Accounts Receivable balance of White Electronics Inc is $340,000. The Allowance for Doubtful Accounts has an) $10,500 credit balance. Accountants for White Electronics Inc prepare the following aging schedule for its accounts receivable: (Click the icon to view the aging schedule.) Required 1. Journalize the adjusting entry for doubtful accounts based on the aging schedule. Show the T-account for the allowance at December 31, 2020. 2. Show how White Electronics Inc will report Accounts Receivable on its December 31, 2020, balance sheet. 3. Suppose all the facts of this situation are the same except that Allowance for Doubtful Accounts has a $1,200 debit balance. Calculate the amount of the adjusting entry. . X Aging Schedule Requirement 2. Show how White Electronics Inc will report Accounts Receivable on its December 31, 2020, balance sheet. Age of Accounts Receivable 1-30 31-60 61-90 Over 90 White Electronics Inc Balance Sheet (partial) December 31, 2020 Days Days $146,000 Days $86,000 Days Total $24,000 $340,000 Accounts Receivable $84,000 0.5% 3.0% 8.0% 60.0% Estimated percent uncollectible Allowance Needed Accounts receivable, net Print Done Requirement 3. Suppose all the facts of this situation are the same except that Allowance for Doubtful Accounts has a $1,200 debit balance. Calculate the amount of the adjusting entry. Allowance for Doubtful Accounts: Credit balance needed 1-30 31-60 61-90 Over 90 Subtotal Unadjusted balance Adjusting entry amount