The following accounts and their balances were taken from the books of Vales Mimeographing Services as of December 31, 2020 end of the accounting period. Cash on Hand Accounts Receivable Allowance for Bad Debts Notes Receivable Mimeographing Equipment Accumulate Depreciation - Mimeo Equipment Fumiture and Fixture Accumulated Depreciation- Furniture and Fixture Accounts Payable Notes Payable Bunny, Capital Bunny, Drawing Mimeo Income Salaries Expense Rent Expense Insurance Expense Utilities Expense Supplies Expense 5,000 7,000 300 2,000 12,000 1,200 5,000 500 6,000 1,000 14,800 1,500 25,000 8,000 3,000 1,000 300 4,000 P 48,800 Total 48,800 Additional Infomation: 1. Unexpired insurance was P160. 2. The allowance for depreciation for furniture and fixture should be increased to P600. 3. The allowance for bad debts should be increased by 5% if the outstanding Accounts Receivable. 4. The note was received on Dec. 1 at the interest of 10% of a 60-day term Answer for Journal Dec 31 Prepaid Insurance 160.00 Insurance Expense 160.00 Depreciation Expense - Fumiture &Fixture 100.00 Accumulated Depreciation- Furniture & Fixture 100.00 Bad Debts Expense 350.00 Allowance for Bad Debts 350.00 Interest Receivable 16.67 Interest Income 16.67 Required: 1. Prepare a 10-column worksheet

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Spring Garden Flowers had the following balances at December 31, 2024, before the year-end adjustments: E (Click the icon to view the balances.) The aging of accounts receivable yields the following data: E (Click the icon to view the accounts receivable aging schedule.) Requirements Journalize Spring's entry to record bad debts expense for 2024 using the aging-of-receivables method. 1. 2. Prepare a T-account to compute the ending balance of Allowance for Bad Debts. Requirement 1. Journalize Spring's entry to record bad debts expense for 2024 using the aging-of-receivables method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts Debit Credit Dec. 31 Data Table Accounts Receivable Allowance for Bad Debts 66,000 1,615 Requirement 2. Prepare a T-account to compute the ending balance of Allowance for Bad Debts. Allowance for Bad Debts Print Done Data Table Age of Accounts Receivable 0-60 Days Over 60 Days Total…

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Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables. Mar. 17:  Received $3,190 from Paula Spitler and wrote off the remainder owed of $5,900 as uncollectible. If an amount box does not require an entry, leave it blank. Mar. 17   fill in the blank e83d81f48fed021_2 fill in the blank e83d81f48fed021_3     fill in the blank e83d81f48fed021_5 fill in the blank e83d81f48fed021_6     fill in the blank e83d81f48fed021_8 fill in the blank e83d81f48fed021_9 July 29:  Reinstated the account of Paula Spitler and received $5,900 cash in full payment. July 29   fill in the blank cf28d0043fd3fb7_2 fill in the blank cf28d0043fd3fb7_3     fill in the blank cf28d0043fd3fb7_5 fill in the blank cf28d0043fd3fb7_6 July 29   fill in the blank cf28d0043fd3fb7_8 fill in the blank cf28d0043fd3fb7_9     fill in the blank cf28d0043fd3fb7_11 fill in the blank cf28d0043fd3fb7_12

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