Required A General Journal Required A T Required B Required C Accounts Record the transactions in general journal form. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list A Record entry for uncollectible accounts written off. B Record entry for reinstated previously written-off accounts. C Record entry for collected reinstated accounts. D Record services on account. ☑ Credit E Record entry for collection of accounts receivable. F Record entry for uncollectible accounts expense. Note : = journal entry has been entered > General Journal Accounts Requirea b Requirea Post the transactions to T-accounts. Cash (partial) Beginning Balance Service Revenue Beginning Balance Ending Balance Ending Balance Accounts Receivable Uncollectible Accounts Expense Beginning Balance Beginning Balance Ending Balance 0 Allowance for Doubtful Accounts Beginning Balance Ending Balance Ending Balance 0
The accounts receivable balance for Renue Spa at December 31, Year 1, was $61,000. Also on that date, the balance in the Allowance for Doubtful Accounts was $3,750. During Year 2, $2,100 of accounts receivable were written off as uncollectible. In addition, Renue unexpectedly collected $500 of receivables that had been written off in a previous accounting period. Services provided on account during Year 2 were $215,000, and cash collections from receivables were $218,000. Uncollectible accounts expense was estimated to be 2 percent of the sales on account for the period.RequiredRecord the transactions in general journal form and post to T-accounts.Based on the preceding information, compute (after year-end adjustment):(1) Balance of allowance for doubtful accounts at December 31, Year 2.(2) Balance of accounts receivable at December 31, Year 2.(3) Net realizable value of accounts receivable at December 31, Year 2.What amount of uncollectible accounts expense will Renue report for Year 2? Got stuck please help!
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