44.Subject :- Accounting Required information[The following information applies to the questions displayed below.]The general ledger of Pop's Fireworks includes the following account balances in 2024:AccountsCashAccounts ReceivableAllowance for Uncollectible AccountsSuppliesNotes Receivable ( 8 %, due in 2 years)LandAccounts PayableCommon StockRetained EarningsService RevenueSalaries ExpenseUtilities ExpenseSupplies ExpenseTotalsDebit$23, 20046,5009,70030,00095,000View transaction list71,90027, 200Journal entry worksheet< 12 318,700$322, 200November 15 Write off customer accounts of $2,500 as uncollectible.Credit$4,200In addition, the following transactions occurred during 2024 and are not yet reflected in the account balances above:June 3June 8Provide additional services on account for $17,000. All services on account include terms 2/10, n/30.Receive cash from customers within 10 days of the services being provided on account. The customers wereoriginally charged $10,000.Provide additional services on account for $17,000. All services on accountinclude terms 2/10, n/30.14,300146,00030,900126,800Required:1. Record each of the transactions listed above. (If no entry is required for a particular transaction/event, select "No Journal EntryRequired" in the first account field.)$322, 200

The journal entry is a recording of a financial transaction in the accounting system, capturing the…

The general ledger of Pop's Fireworks includes the following account balances in 2024: Accounts Cash Debit $23,200 Accounts Receivable 46,500 Allowance for Uncollectible Accounts Supplies Notes Receivable ( 8 %, due in 2 years) Land Accounts Payable Common Stock Retained Earnings Service Revenue 9,700 30,000 95,000 Credit $4,200 14,300 146,000 30,900 126,800

The general ledger of Pop's Fireworks includes the following account balances in 2024: Accounts Cash Debit $23,200 Accounts Receivable 46,500 Allowance for Uncollectible Accounts Supplies Notes Receivable ( 8 %, due in 2 years) Land Accounts Payable Common Stock Retained Earnings Service Revenue 9,700 30,000 95,000 Credit $4,200 14,300 146,000 30,900 126,800

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 11EA: Mirror Mart uses the balance sheet aging method to account for uncollectible debt on receivables....

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