Winding Landscaping Services started the year 2020 with an Accounts Receivable balance of 67,400 and an lowance for Doublecount balance of 16.100 During the year, 35,400 of accounts recevoite wordentified as colectii Sales revenue for 2020 was 5442.000 Inching credit sales of 124.000 Cashcolections on account were 25.000 daring the year The aging of accounts receivable yields these data Click the ken to view the data) You're the accountant preparing the December 31, 2020 year-end entries Required Requirement 1. Joumare Winding' (a) credit as) canh collections on account, c) wito ed of the accounts receivable eified as unced and bad debit expense based on 05 percent of crede takes Start by entering the journal entry for the credit sales recorded in 2020 Record debit, then credits Exclude explanations from ournal entries) Journal Entry Accounts Debat Credit Next, journalize the collections on account Choose from any list or enter any number in the input fields and then continue to the next question Next, journalize the collections on account. Journal Entry Accounts Debit Credit Now, record the entry to journalize the write-offs of uncollectibles Journal Entry You're the accountant preparing the December 31, 2020, year-end entries. Required Now, record the entry to journalize the write-offs of uncollectibles Journal Entry Accounts Debit Credit Now, journalize the bad debt expense. lournal Entry Choose from any list or enter any number in the input fields and then continue to the next question Now, journalize the bad debt expense. Journal Entry Accounts Debit Credit Requirement 2. Prepare a T-account for the Accounts Receivable and Allowance for Doubtful Accounts accounts. In the following T-accounts, enter the adjusting entries in the order recorded in the preceding steps. Calculate the balance of e Choose from any list or enter any number in the input fields and then continue to the next question O Type here to see Requirement 2. Prepare a T-account for the Accounts Receivable and Allowance for Doubtful Accounts accounts In the following T-accounts, enter the adjusting entries in the order recorded in the preceding steps. Calculate the balance of each account. (If a box is not used in the Taccounts, loan Accounts Receivable Allowance for Doubtful Accounts Bal 67,400 Bal 6.100 Requirement 3. Calculate the balance in the Allowance for Doubtful Accounts based on the aging of accounts receivable method (Round each answer to the nearest whole number. Age of Accounts Receivable 1-30 31-60 61-90 Over 90 Total Choose from any list or enter any number in the input fields and then continue to the next question me dylliy ul QULDURLS ILuvale yields tiese data (Click the icon to view the data.) You're the accountant preparing the December 31, 2020 year-end entries. Required Age of Accounts Receivable 1-30 31-60 61-90 Over 90 Total Days Days Days Days Receivables Amount of receivable $40,000 $8.200 $7.100 $5.700 $ 64.000 Estimated percent uncollectible 1 % 1 % 4 % 60 % Estimated amount uncollectible Requirement 4. Make any adjustment required to the Allowance for Doubtful Accounts based on the calculation in requirement 3. Journal Entry Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question. LOTTO TUTTE LECTURE Requirement 4. Make any adjustment required to the Allowance for Doubtful Accounts based on the calculation in requirement 3. Journal Entry Accounts Debit Credit Requirement 5. Show how Winding Landscaping Services should report Accounts Receivable on the balance sheet There are two generally accepted methods to present receivables on the balance sheet. The first method shows the allowance for dou allowance for doubtful accounts amount, and then calculate the net accounts receivable amount.) Choose from any list or enter any number in the input fields and then continue to the next question 1 Type here to o Bi hp Required puring the December 31, 2026. year-end entries Requirement 5. Show how Winding Landscaping Services should report Accounts Receivable on the balance sheet There are two generally accepted methods to present receivables on the balance sheet The first method shows the allowance for doubtful accounts amount in the line bom description. Choose the account title, enter the allowance for doubtful accounts amount, and then calculate the net accounts receivable acount.) Balance Sheet (Partial Current assets The second method used to present receivables on the balance sheet shows the allowance for doubtful accounts on a line of its own. Balance Sheet (Partial): Choose from any ist or enter any number in the input fields and then continue to the next question Type here to reach 11 II o 9 UDING 6:32 PM 2020-06-11 hp 0 CANDO # $ % ? & 2 4 3 5 00 6 7 VA 3 2 314 1/2 W a R. P E U Y T [L BILIRUR RAHU W Uruta. You're the accountant preparing the December 31, 2020, year-end entries. Required There are two generally accepted methods to present receivables on the balance sheet. The first method shows the allowance for doubtful allowance for doubtful accounts amount, and then calculate the net accounts receivable amount.) Balance Sheet (Partial): Current assets The second method used to present receivables on the balance sheet shows the allowance for doubtful accounts on a line of its own. Balance Sheet (Partial): Accounts receivable, net Choose from any list or enter any number in the input fields and then continue to the next question Winding Landscaping Services started the year 2020 with an Accounts Receivable balance of $67,400 and an Allowance for Doubtful Accounts balance of 56,100 During the year, $5,400 of accounts receivable were identified as uncollectible. Sales revenue for 2020 was $442,000, including credit sales of $424,000 Cash collections on account were $425,000 during the year The aging of accounts receivable yields these data (Click the icon to view the data.) You're the accountant preparing the December 31, 2020, year-end entries. Required Requirement 1. Journalize Winding's (a) credit sales, (b) cash collections on account, (c) write-off of the accounts receivable identified as uncollectible, and (d) bad debt expense based on 0.5 percent of credit sales Start by entering the journal entry for the credit sales recorded in 2020. (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question Copyright 2020 Pearson Education Inc. All rights reserved. Terms of Use Privacy Policy. Permissions Contactos o i Required Requirement 1. Journalize Winding's (a) credit sales, (b) cash collections on account, (c) write-off of the accounts receivable identified as uncollectible, and (d) bad debt expense based on 0.5 percent of credit sales Start by entering the journal entry for the credit sales recorded in 2020. (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question Copyright 2020 Pearson Education Inc. All rights reserved. Terms of Use Privacy Policy Permissions Contact j CULU, you entnes. Required Requirement 2. Prepare a T-account for the Accounts Receivable and Allowance for Doubtful Accounts accounts. In the following T-accounts, enter the adjusting entries in the order recorded in the preceding steps. Calculate the bala.ce of each account. (If a box is not used in the T-accounts, leave the box empty; do not enter a zero.) Accounts Receivable Allowance for Doubtful Accounts Bal 67,400 Bal 6,100 Choose from any list or enter any number in the input fields and then continue to the next question Requirement 3. Calculate the balance in the Allowance for Doubtful Accounts based on the aging-of-accounts receivable method (Round each answer to the nearest whole number.) A 1-30 Days $40,000 Age of Accounts Receivable 31-60 61-90 Over 90 Total Days Days Days Receivables $8.200 57.100 $5,700 $ 61,000 1% 4 % 60 % Amount of receivable Estimated percent uncollectible Estimated amount uncollectible 1% Choose from any list or enter any number in the input fields and then continue to the next question Copyright 2020 Pearson Education Inc. All rights reserved. Terms of Use Privacy Policy. Permissions C IULIEU as colecuble Sales revenue for 2020 was $442,000, including credit sal collections on account were $425,000 during the year. The aging of accounts receivable yields these data (Click the icon to view the data.) You're the accountant preparing the December 31, 2020, year-end entries. Required Requirement 4. Make any adjustment required to the Allowance for Doubtful Accounts based on the calculation in requirement 3. Journal Entry Accounts Debit Credit A Choose from any list or enter any number in the input fields and then continue to the next question Copyright 2020 Pearson Education Inc. All rights reserved. Terms of Use Privacy Poli Patch o Requirement 5. Show how Winding Landscaping Services should report Accounts Receivable on the balance sheet. There are two generally accepted methods to present receivables on the balance sheet. The first method shows the allowance for doubtful accounts amount in the line item description (Choose the account title, enter the allowance for doubtful accounts amount, and then callate the net accounts receivable amount.) Balance Sheet (Partial): Current assets The second method used to present receivables on the balance sheet shows the allowance for doubtful accounts on a line of its own. Choose from any list or enter any number in the input fields and then continue to the next question. Copyright 2020 Pearson Education Inc. All rights reserved. Terms of Use Privacy Policy Permissions G O RI Requirement 5. Show how Winding Landscaping Services should report Accounts Receivable on the balance sheet. There are two generally accepted methods to present receivables on the balance sheet. The first method shows the allowance for doubtful accounts amount in the line item description (Choose the account title, enter the allowance for doubtful accounts amount, and then calculate the net accounts receivable amount.) Balance Sheet (Partial): Current assets The second method used to present receivables on the balance sheet shows the allowance for doubtful accounts on a line of its own Choose from any list or enter any number in the input Delds and then continue to the next question Copyright 2020 Pearson Education Inc. All rights reserved. Terms of Use Privacy Policy Permissions Contac UUR (Click the icon to view the data.) You're the accountant preparing the December 31, 2020, year-end entries. Required uyum OTWww www capery Tour There are two generally accepted methods to present receivables on the balance sheet. The first method shows the allowance for doubtful accounts amount in the line item description(Choose the account title, enter the allowance for doubtful accounts amount, and then calculate the net accounts receivable amount.) Balance Sheet (Partial): Current assets I The second method used to present receivables on the balance sheet shows the allowance for doubtful accounts on a line of its own. Choose from any list or enter any number in the input fields and then continue to the next question Copyright 2020 Pearson Education Inc. All rights reserved. Terms of Use Privacy Policy. Permissions Gula (Click the icon to view the data.) You're the accountant preparing the December 31, 2020, year-end entries. Required Current assets The second method used to present receivables on the balance sheet shows the allowance for doubtful accounts on a line of its own. Balance Sheet (Partial): Accounts receivable, net Choose from any list or enter any number in the input fields and then continue to the next