The September 30, 2019, records of First Report Communications include these accounts D. (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, First Report Communications estimates Uncollectible account exponse af 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 Black Carpets and the $600 account receivable from Old Timer Antiques Journal Entry Date Accounts Debit Credit O Nov 30 2 d transactions.) Read the requirements, . st, then cred 1 Data Table ues. At September 30, 2019 $ Accounts Receivable Allowance for Uncollectible Accounts 242,000 (8,100) Print Done kclude uirement 1.R anatons from * More Info e off as uncol Nov 30 30 Wrote off as uncollectible the $1.700 account receivable from Black Carpets and the $600 account receivable from Old Timer Antiques Adjusted the Allowance for Uncollectible Accounts and recorded uncollectible account expense at year-end, based on the aging of receivables Dec 31 Print Done Tredits Exclude nt 1. Record the s from any jour i More Info Suncollectible the 30 Accounts Receivable and aging schedule to be used at December 31, 2019 Age of Accounts Accounts Receivable 1-30 Days 31-60 Days 61-90 Days Over 90 Days $230,000 $ 135,000 $ 35,000 $ 12,000 $ 48.000 Estimated percent uncollectible 02% 2% 15% 35% Print Done 5 of First Report Communications include these eptember 30, 2019 account balances) he company completed the following selected During the year, First Report Communications expense at 1% of credit sales. At year-end (DE receivables and adjusts the balance in the Allo correspond to the following aging schedule. (Click the icon to view the Accounts Recei- to be used at December 31, 2019.) Read the requirements. elected transactions) sact tries i Requirements ,700 U 1. Record the transactions for the last quarter of 2019 in the journal. Explanations are not required. 2. Prepare a T-account for Allowance for Uncollectible Accounts with the appropriate beginning balance. Post the entries from requirement 1 to that account 3. Show how First Report 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 $4,800 (Be sure to use the December 31, 2019 aging schedule given in the problem data.) Accounts Debit Cre Accounts Receivable-Black Carpets Accounts Receivable-Old Timer Antiques Allowance for Uncollectible Accounts Cash Sales Revenue Uncollectible-Account Expense
