You have just been hired as the accountant for Fan-Tastic Sports Gear, a wholesaler of sporting goods and apparel. The previous accountant left abruptly, and an accounting intern has been drafting the journal entries since January. You are examining the accounting records before finalizing the journal entries for the first quarter. Some of the accounts receivable transactions that you are reviewing follow.

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JOURNAL

ACCOUNTING EQUATION

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT	ASSETS	LIABILITIES	EQUITY
1	Jan. 17	Sales		9,700.00
2		Bad Debt Expense			9,700.00
3	17	Bad Debt Expense		9,700.00
4		Accounts Receivable-CJs Sports			9,700.00
5	21	Cash		10,700.00
6		Bad Debt Expense		2,200.00
7		Accounts Receivable-Four Seasons Sportswear			12,900.00
8	Feb. 15	Accounts Receivable-Healthy Running		3,000.00
9		Bad Debt Expense		500.00
10		Sales			3,500.00
11	Mar. 4	Accounts Receivable-Four Seasons Sportswear		2,200.00
12		Bad Debt Expense			2,200.00
13	4	Cash		2,200.00
14		Bad Debt Expense			2,200.00
15	13	Cash		5,540.00
16		Accounts Receivable-Barbs Best Gear			5,540.00
17	31	Bad Debt Expense		20,970.00
18		Accounts Receivable-Healthy Running			5,350.00
19		Accounts Receivable-The Locker Room			4,100.00
20		Accounts Receivable-CJs Sports			2,780.00
21		Accounts Receivable-Get Your Gear			7,050.00
22		Accounts Receivable-Ready-2-Go			1,690.00

	EQUITY
310	Rama Gupta, Capital
311	Rama Gupta, Drawing

Finalize the journal entries shown on the Fan-Tastic Sports Gear panel and make any necessary changes. Refer to the Chart of Accounts for the exact wording of account titles. You may also use any items from the preceding list, if needed.

Question not attempted.

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JOURNAL

ACCOUNTING EQUATION

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CHART OF ACCOUNTS Fan-Tastic Sports Gear General Ledger ASSETS 110 Cash REVENUE 410 Sales 610 Interest Revenue 111 Petty Cash 121 Accounts Receivable-Healthy Running 122 Accounts Receivable-The Locker Room 123 Accounts Receivable-CJ's Sports 124 Accounts Receivable-Get Your Gear 125 Accounts Receivable-Four Seasons Sportswear 126 Accounts Receivable-Ready-2-Go 127 Accounts Receivable-Barb's Best Gear EXPENSES 510 Cost of Merchandise Sold 520 Sales Salaries Expense 521 Advertising Expense 523 Delivery Expense 524 Repairs Expense 132 Notes Receivable-Fast Feet Co. 529 Selling Expenses 132 Notes Receivable-Fast Feet Co. 136 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 151 Prepaid Insurance 181 Land 193 Office Equipment 194 Accumulated Depreciation Office Equipment 529 Selling Expenses 530 Office Salaries Expense 531 Rent Expense 532 Depreciation Expense-Office Equipment 533 Insurance Expense 534 Office Supplies Expense 536 Credit Card Expense 537 Cash Short and Over 538 Bad Debt Expense 539 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable