The September $30,2019,$ records of Perfecto Communications include these accounts: At September $30,201$ Question Viewer

Accounts Receivable and aging schedule to be used at December $31,2019$ Re$,$ Question Viewer pare a T$-$account for Allowance for Uncollectible Accounts with the appropriate beginning balance. Post the entries from Requirement $1$ to that account.

Open the T$-$account by posting the beginning balance. Then post the entries to the Allowance for Uncollectible Accounts T$-$account and calculate the ending balance.

Allnwance for I Inc.nllen.tihle Acr.n$$nts

Requirement $3.$ Show how Perfecto Communications will report its accounts receivable in a comparative balance sheet for $2018$ and $2019.($Use the three$-$line reporting format.$)$ At December $31,$

$2018,$ the company's Accounts Receivable balance was $$213,000,$ and the Allowance for Uncollectible Accounts stood at $$5,000.($Be sure to use the Accounts Receivable balance at December $31,$

$2019$ given in the problem data.$)$

$($Click the icon to view the September$30,2019$account balances.$)$

During the last quarter of $2019$the company completed the following selected transactions:

$($Click the icon to view the selected transactions.$)$

During the year, Perfecto Communications estimates Uncollectible$-$account expense

at $1\%$ of credit sales. At year$-$end $($December $31),$ the company ages its receivables and

adjusts the balance in the Allowance for Uncollectible Accounts to correspond to the

following aging schedule.

$($Click the icon to view the Accounts Receivable balance and aging schedule to be

used at December $31,2019.)$

Read the requirements.

Requirement $1.$ Record the transactions for the last quarter of $2019$ in the journal. Explanations are not required. $($Record debits first, then credits. Exclude explanations from any journal entries.$)$

Wrote off as uncollectible the $$1,700$ account receivable from Brown Carpets and the $$800$ account receivable from Good Antiques.

Journal Entry

Adjusted the Allowance for Uncollectible Accounts and recorded doubtful$-$account expense at year$-$end, based on the aging of receivables.

Journal Entry

Requirement $2.$ Prepare a T$-$account for Allowance for Uncollectible Accounts with the appropriate beginning balance. Post the entries from Requirement $1$ to that account.

Open the T$-$account by posting the beginning balance. Then post the entries to the Allowance for Uncollectible Accounts T$-$account and calculate the ending balance.

Allowance for Uncollectible Accounts