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The Better 1029 Crust www.101 Durere OD 1 December General INO More 1.700 Jury be C TO Data table 1 Date Am C Our www.no AD IND Car The September 30, 2019, records of First Data Communications include these accounts: (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.) Requirement 1. Record the transactions for the last quarter of 2019 in the journal. Explanations are not required. (Record debits first, then credits. Exclude Wrote off as uncollectible the $1,700 account receivable from Blue Carpets and the $800 account receivable from Old Timer Antiques. Journal Entry Date Accounts Debit Credit Nov 30 Adjusted the Allowance for Uncollectible Accounts and recorded doubtful-account expense at year-end, based on the aging of receivables. Journal Entry Date Accounts Debit Credit Dec 31 Requirement 2. Prepare a T-account for Allowance for Uncollectible Accounts with the appropriate beginning balance. Post the entries from Requirement 1 tot 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 bala Allowance for Uncollectible Accounts Requirement 3. Show how First Data Communications will report its accounts receivable in a comparative balance sheet for 2018 and 2019. (Use the three-liner Accounts stood at $4,400. (Be sure to use the Accounts Receivable balance at December 31, 2019 given in the problem data) First Data Communications Comparative Balance Sheet (partial) During the year, First Data Communications estimates Uncollectie-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 sche Click the icon to view the Accounts Receivable balance and aging schedule to be used at December 31, 2019.) Read the requirements red. (Record debits first, the credits. Exclude explanations from any journal entries trom Old Timer Antiques - X Data table $ Al September 30, 2019 Accounts Receivable Allowance for Uncollectible Accounts 243.000 (8.2001 ed on the aging of receivables Print Done ning balance. Post the entries from Requirement to that account ble Account T-account and calculate the ending balance ve balance sheet for 2018 and 2010. (Use the three-line reporting format.) Al December 31, 2018, the company's Accounts Receivable balance was $214,000, and the Allowance for Uncollectie an in the protem data) The September 30, 2019, records of First Data Communications include these accounts: Click the icon to view the September 30, 2019 account balances) During the last quarter of 2018, the company completed the following selected transactions Click the loon to view the selected transactions) During the year, First company ages its rece (Cack the icon to Read the requirements Data table Adjusted the lowance for Uncollectible Accounts and recorded doubtful-account expense at year-end, based on the aging of receivables. Journal Entry Data Accounts Debit Credit Dec 31 Al Septembe Accounts RS Allowance for Requirement 2. Prepare a T-account for Allowance for Uncollectible Accounts with the appropriate beginning balance. Post the entries from Requirement 1 hot Open the account by posting the beginning balance. Then post the entries to the Allowance for Uncollectible Accounts T-account and calculato the ending bald Allowance for Uncollectible Accounts Requirement 3. Show how First Data Communications will report is accounts receivable in a comparative balance sheet for 2018 and 2019. (Use the three-line reporting format) At Decorbu Accounts stood at $4,400. (Be sure to use the Accounts Receivable balance at December 31, 2019 given in the problem data) First Data Communications Comparative Balance Sheet (partial) December 31, 2019 and 2018 2019 2018 LOS Communications include these wounts 2019 account balances) completed the following selected transactions During the year Fest Data Communications estimates Un collectible account expense 1% of credit sal company ages de recevables and is the balance in the lowance for Uncollectie Accounts to con Click the lion to the Account Recette balance and song ches to be used at December Read the X Requirements Data table Jour US 1. Record the transactions for the last quarter of 2019 in the mal Explanations are not noored 2. Prepare a account for lowance for Uncle Accounts with the appropriate beginning balance Post the entries from requirement to that count 1 show how First Date Communications wil norsun bina comparative balance sheet for 2018 and 2019. (Use there are reporting format) A December 31, 2010, the company's Accounts Receivable balance was $214.000, and the lowano for Uncollectible Accounts oodat 54,400 (a sors to the December 31, 2018 aging cheguen the problem da) At 30,2010 Account Recovat Alor 3 243.000 1.2001 wand Print Done Print Done munications will repaini de accounts receive comprovano ou tee 2018 m. 2019. (Use the wine mooring format/At December 31, 2010, the company's Arcourts acervatio tance 574.000 and the certa Rance Doce 2019 is the probiondo) unication Sheet 19 and 2018 2019 2012 The September 30, 2019, records of First accounts: Click the icon to view the September During the last quarter of 2019, the compa transactions: Click the icon to view the selected tre A1 September 30, 2019 Accounts Receivablo Allowance for Uncollectible Accounts $ 243,000 (8,200) lear-end justs the prrespond to nce and aging Print Done More info Requirement 1 explanations from Wrote off as und Nov 30 Wrote off as uncollectible the $1.700 account receivable from Blue Carpets and the $800 account receivable from Old Timer Antiques Dec 31 Adjusted the Allowance for Uncollectible Accounts and recorded uncollectible-account expense at year-end, based on the aging of receivables Date Nov 30 Print Done Adjusted the All Date More info Doc 31 Accounts Receivable and aging schedule to be used at December 31, 2010 Age of Accounts Accounts Receivable 1-30 Days 31-60 Days 61.90 Days Over 90 Days $231,000 $ 140,000 5 55,000 $ 18,000 $ 18.000 Estimated percent uncollectible 0.2% 2% 15% 35% biremont 1 to Requirement 2. Prepo that account Open the T-account by balance the ending
