Tiger Map Company's balance sheet at December 31, 2017, reported the following: (Click the icon to view the data.) Read the requirements Requirement 1. How much of the receivables did Tiger expect to collect? Stated differently, what was the net realizable value of these receivables? The net realizable value of these receivables is $ Requirement 2. Joumalize, without explanations, 2018 entries for Tiger and post to the Accounts Receivable and Allowance for Bad Debts T-accounts. Begin with the journal entries. (Record debits first, then credits. Exclude explanations from journal entries.) a. Total credit sales for 2018 were $90,000 (ignore Cost of Goods Sold). Date Accounts and Explanation Debit Credit 2018 (a) Choose from any list or enter any number in the input fields and then continue to the next question. Tiger Map Company's balance sheet at December 31, 2017, reported the following: (Click the icon to view the data.) Read the requirements, Requirement 2. Journalize, without explanations, 2018 entries for Tiger and post to the Accounts Receivable and Allowance for Bad Debts T-accounts. Begin with the journal entries. (Record debits first, then credits. Exclude explanations from journal entries.) a. Total credit sales for 2018 were $90,000 (ignore Cost of Goods Sold). Date Accounts and Explanation Debit Credit 2018 Choose from any list or enter any number in the input fields and then continue to the next question. Tiger Map Company's balance sheet at December 31, 2017, reported the following: (Click the icon to view the data.) Read the requirements. b. Tiger received cash payments on account during 2018 of $81,000. Date Accounts and Explanation Debit Credit 2018 (b) c. Accounts receivable identified to be uncollectible totaled $8,100. Date Accounts and Explanation Debit Credit 2018 Choose from any list or enter any number in the input fields and then continue to the next question. als Tiger Map Company's balance sheet at December 31, 2017, reported the following: (Click the icon to view the data.) Read the requirements Post to the Accounts Receivable and Allowance for Bad Debts T-accounts. The opening balances, as provided in the question, have been entered for you. Post the current year transactions you recorded above to these two accounts using the corresponding letters (a, b, c) as posting references. After posting, calculate the unadjusted balance of each account by selecting an "Unadj. Bal." posting reference and entering the unadjusted balance on the appropriate side of each account. te Review the journal entries you prepared above. Accounts Receivable Jan 1, 2018, Bal. 75,000 Allowance for Bad Debts 5,000 Jan 1, 2018, Bal. Requirement 3. Record the adjusting entry to recognize bad debts expense using the following independent situations, and then post to the Bad Debts Expense and Allowance for Bad Debts T-accounts Choose from any list or enter any number in the input fields and then continue to the next question Tiger Map Company's balance sheet at December 31, 2017, reported the following: (Click the icon to view the data.) Read the requirements a. 7% of credit sales were estimated to be uncollectible. Begin by recording the adjusting entry to recognize bad debts expense. (Record debits first, then credits. Exclude explanations from journal entries.) Date Accounts and Explanation Debit Credit 2018 Dec. 31 a. 7% of credit sales were estimated to be uncollectible Enter the unadjusted balance of the Allowance for Bad Debts account from Requirement 2, along with an "Unadj. Bal." posting reference to the first line of the Allowance for Bad Debts T-account Post the adjusting entry from the preceding step to the Allowance for Bad Choose from any list or enter any number in the input fields and then continue to the next question. Tiger Map Company's balance sheet at December 31, 2017, reported the following: (Click the icon to view the data.) Read the requirements. Review the allowance T-account that you posted to in Requirement 2. Allowance for Bad Debts Bad Debts Expense b. An aging of receivables indicates that $900 of the receivables are estimated to be uncollectible. Begin by recording the adjusting entry to recognize bad debts expense. (Record debits first, then credits. Exclude explanations from journal entries.) Review the allowance T-account that you posted to in Requirement 2. Date Accounts and Explanation Debit Credit 2018 Choose from any list or enter any number in the input fields and then continue to the next question. Tiger Map Company's balance sheet at December 31, 2017, reported the following: (Click the icon to view the data.) Read the requirements b. An aging of receivables indicates that $900 of the receivables are estimated to be uncollectible. Enter the unadjusted balance of the Allowance for Bad Debts account from Requirement 2, along with an 'Unadj. Bal." posting reference to the first line of the Allowance for Bad Debts T-account. Post the adjusting entry from the preceding step to the Allowance for Bad Debts and Bad Debts Expense T-accounts along with an "Adj." posting reference. After posting the entry, calculate the adjusted balance of the T-accounts and enter the adjusted balance, along with a "Dec 31, 2018, Bal." posting reference to the appropriate side of each account Review the allowance T-account that you posted to in Requirement 2 Allowance for Bad Debts Bad Debts Expense Choose from any list or enter any number in the input fields and then continue to the next question. any nto * Requirements men vabl How much of the receivables did Tiger expect to collect? Stated differently, what was the net realizable value of these receivables? Journalize, without explanations, 2018 entries for Tiger and post to the Accounts Receivable and Allowance for Bad Debts T-accounts. a. Total credit sales for 2018 were $90,000 (ignore Cost of Goods Sold). b. Tiger received cash payments on account during 2018 of $81,000. c. Accounts receivable identified to be uncollectible totaled $8,100. Record the adjusting entry to recognize bad debts expense using the following independent situations, and then post to the Bad Debts Expense and Allowance for Bad Debts T-accounts. a. 7% of credit sales were estimated to be uncollectible. b. An aging of receivables indicates that $900 of the receivables are estimated to be uncollectible. Print Done list
