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Business, 18.02.2020 06:31 Jinesha

The general ledger of Pop's Fireworks includes the following account balances in 2021: Accounts Debit Credit Cash $ 21,200 Accounts Receivable 41,500 Allowance for Uncollectible Accounts $ 2,200 Supplies 6,700 Notes Receivable (8%, due in 2 years) 10,000 Land 85,000 Accounts Payable 12,300 Common Stock 106,000 Retained Earnings 29,900 Service Revenue 124,800 Salaries Expense 70,900 Utilities Expense 24,200 Supplies Expense 15,700 Totals $ 275,200 $ 275,200 In addition, the following transactions occurred during 2021 and are not yet reflected in the account balances above: June 3 Provide additional services on account for $7,000. All services on account include terms 2/10, n/30. June 8 Receive cash from customers within 10 days of the services being provided on account. The customers were originally charged $5,000. November 15 Write off customer accounts of $1,500 as uncollectible. Record the following adjusting entries on December 31. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Estimate that 10% of the balance of accounts receivable (after transactions in requirement 1) will not be collected. Accrue interest on the note receivable of $10,000, which was accepted on October 1, 2021. Interest is due each September 30. 1)Record the estimate of future bad debts. 2) Record the interest accrued on note receivable.

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The general ledger of Pop's Fireworks includes the following account balances in 2021: Accounts Debi...
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