X - Requirements 1. Journalize sales, collections, write-offs of uncollectibles, and uncollectible-account expense by the allowance method during July. Explanations are not required. 2. Show the ending balances in Accounts Receivable, Allowance for Uncollectible Accounts, and Net Accounts Receivable at July 31. How much does Candy expect to collect? 3. Show how Candy Party Planners will report accounts receivable and net sales on its July 31 balance sheet and income statement for the month ended July 31. Print Done E5-19A (similar to) Question Help On June 30, Candy Party Planners had a $40,000 balance in Accounts Receivable and a $3,278 credit balance in Allowance for Uncollectible Accounts. During July, Candy made credit sales of $194,000. July collections on account were $164,000, and write-offs of uncollectible receivables totaled $2,840. Uncollectible-accounts expense is estimated as 2% of credit sales. No sales returns are expected. Ignore cost of goods sold. Read the requirements Requirement 1. Journalize sales, collections, write-offs of uncollectibles, and uncollectible-account expense by the allowance method during July. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) (a) Begin by recording the journal entry for July sales. Journal Entry Date Accounts Debit Credit (a) Choose from any list or enter any number in the input fields and then click Check Answer. ? 8 parts remaining javascript:doExercise(3); Clear All Check