Income Statement The following account balances were taken from the adjusted trial balance for Laser Messenger Service, a delivery service firm, for the fiscal year ended April 30, 2019: Depreciation Expense $8,500 Fees Earned 451,400 Insurance Expense 1,620 Miscellaneous Expense 3,400 Rent Expense 64,600 Salaries Expense 227,000 Supplies Expense 2,890 Utilities Expense 24,700 Prepare an income statement. Laser Messenger Service Income Statement For the Year Ended April 30, 2019     $ Expenses:       $                                       Total expenses         $

The following information was taken from the accounts receivable records of Sarasota Corporation as at December 31, 2020:     OutstandingBalance   Percentage Estimatedto be Uncollectible 0 – 30 days outstanding   $160,000   0.5% 31 – 60 days outstanding   66,000   2.5% 61 – 90 days outstanding   40,200   4.0% 91 – 120 days outstanding   20,600   6.5% Over 120 days outstanding   5,600   10.0% (a) Prepare the year-end adjusting entry for bad debt expense, assuming allowance for doubtful accounts had a credit balance of $1,200 prior to the adjustment (b) Prepare the year-end adjusting entry for bad debt expense, assuming allowance for doubtful accounts had a debit balance of $3,880 prior to the adjustment.

On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances:Accounts                                                 Debit                    CreditCash                                                       $ 25,100Accounts Receivable                                 46,200Allowance for Uncollectible Accounts                                 $ 4,200Inventory                                                   20,000Land                                                          46,000Equipment                                                15,000Accumulated Depreciation                                                   1,500Accounts Payable                                                                28,500Notes Payable (6%, due April 1, 2022)                                50,000Common Stock                                                                    35,000Retained Earnings…

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