The September 30, 2019, records of Up To Date Communications include these accounts:
During the last quarter of 2019, the company completed the following selected transcations:
Data Table At September 30, 2019: Allowance for Uncollectible Accounts. . _ _ . . . . _ _ . . . . (8,200) Print Done More Info Nov 30Wrote off as uncollectible the $1,600 account receivable from Green Carpets and the $300 account receivable from Retired Antiques Dec 31Adjusted the Allowance for Uncollectible Accounts and recorded uncollectible-account expense at year-end, based on the aging of receivables Print Done Requirements 1. Record the transactions for the last quarter of 2019 in the journal Explanations are not required. Prepare a T-account for Allowance for Uncollectible Accounts with the appropriate beginning balance. Post the entries from requirement 1 to that account. Show how Up To Date 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 $215,000, and the Allowance for Uncollectible Accounts stood at $4,800. (Be sure to use the December 31, 2019 aging schedule given in the problenm data.) 2. 3. Print Done The September 30, 2019, records of Up To Date Communications include these accounts: EEB (Click the icon to view the September 30, 2019 account balances.) During the last quarter of 2018, the company completed the following selected transactons During the year, Up To Date Communications estimates uncolectible-account expense at 1% of credit sales. At year-end (December 31), the company ages its receivables arnd adjusis the balance in the Alowance for Uncclectible Accounts to correspond to the olowing aging scheduie. (Click the loon to view the Accounts Recelvable balanca and aging schedula to be used at Decamber 31, 2018.) Read the requirements (Click the icon to view the selected transactions.) Requirement 1. Record the tranisactions for the last quarler of 2019 in the journal. Explarnatiors are nct required. (Record debils first, then credits. Exclude explanatians from any journal entries. Wrate offas uncalclibks th $1,800 acunt receivabe fron Green Carpets and the $300 account receivable frcon Retireed Antiqus Journal Entry Date Accounts Debit Credit Nov 30 Adjusted the Allowance or Unco lettle Acounts and recorded doubtful-acDaunt expens at ear end, based on the acirg of receivables. Journal Entry Date Accounts Debit Credit Dec Requirement 2. Prepare a T-account for Allowance for Uncellecible Accounts with the appropriate begrining balance. Post the entries from Requirement 1 to that account. Open the Taccount by posling the beginning balarce. Then post the entries ta the Nlowance for Uncollectible Accounts Taccount arnd calculate the ending balarncae Requirement 3. Show how Up To Date Communications will report its accounts recelvable in a comparatve balance shee: for 2018 and 2019. (Use the three-line raporting format ) A: December 31, 2018, the oompany's Accounts Recelvable balance was $215,000, and the Allowance fo Uncolectble Accounts sioad at $4,800. (Be sure to use the Accounts Receivable balance at December 31, 2019 given in the problem dala.) Up To Date Communications Comparative Balance Sheet (partial) December 31, 2019 and 2018 2018 Less
