3. Record the closing entry. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. × Answer is complete but not entirely correct. No Transaction 1 1 Service revenue Supplies expense Depreciation expense Insurance expense General Journal Wages expense Interest expense Income tax expense Remaining expenses (not detailed) Retained earnings Debit Credit 89,360 10,900 × 3,500 700 16,820 275 5,380 33,270 10,690 x [The following information applies to the questions displayed below.] Tunstall, Incorporated, a small service company, keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted trial balance as of the end of the annual accounting period on December 31: Cash Accounts receivable Supplies Prepaid insurance Service trucks Accumulated depreciation Other assets Tunstall, Incorporated Unadjusted Trial Balance At December 31 Debit Credit 47,900 10,900 600 700 17,600 7,800 9,260 2,210 Accounts payable Wages payable Income taxes payable Notes payable (3 years; 10% interest due each September 30) Common stock (5,700 shares outstanding) 11,000 2,046 Additional paid-in capital 18,414 Retained earnings 5,600 Service revenue 89,360 Wages expense 16,200 Remaining expenses (not detailed; excludes income tax) 33,270 Income tax expense Totals 136,430 136,430 Data not yet recorded at December 31 included: a. The supplies count on December 31 reflected $210 in remaining supplies on hand to be used in the next year. b. Insurance expired during the current year, $700. c. Depreciation expense for the current year, $3,500. d. Wages earned by employees not yet paid on December 31, $620. e. Three months of interest expense (for the note payable borrowed on October 1 of the current year) was incurred in the current year. f. Income tax expense, $5,380.

Please give me answer general accounting question

The chief accountant for Dickinson Corporation provides you with the following list of accounts receivable written off in the current year. Date     Customer     Amount March 31     E. L. Masters Company     $7,800 June 30 Stephen Crane Associates  6,700 September 30 Amy Lowell"s Dress Shop  7,000 December 31 R. Frost, Inc.  9,830 Dickinson follows the policy of debiting Bad Debt Expense as accounts are written off. The chief accountant maintains that this procedure is appropriate for financial statement purposes because the Internal Revenue Service will not accept other methods for recognizing bad debts. All of Dickinson’s sales are on a 30-day credit basis. Sales for the current year total $2,200,000. The balance in Accounts Receivable at year-end is $77,000 and an analysis of customer risk and charge-off experience indicates that 12% of receivables will be uncollectible (assume a zero balance in the allowance). Instructions a.    Do you agree or disagree with…

Blackhorse Productions, Incorporated, used the aging of accounts receivable method to estimate that its Accounts should be $19,950. The account had an unadjusted credit balance of $11,000 at that time. Required: Prepare journal entries for each of the following. (If no entry is required for a transaction/event, select in the first account field.) a. The appropriate bad debt adjustment was recorded. b. Later, an account receivable for $1,100 was determined to be uncollectible and was written off. View transaction list Journal entry worksheet 1 2 Record the end-of-period adjustment for bad debts under the aging of accounts receivable method. Note: Enter debits before credits. Transaction General Journal Debit Credit View general journal Record entry Clear entry

CAN SOMEONE HELP ME FILL OUT THIS CHART ?   (b)   Prepare the year-end adjusting journal entry to record the bad debts using the aged uncollectible accounts receivable determined in (a).Assume the current balance in Allowance for Doubtful Accounts is a $8,500 debit. (c)   Of the above accounts, $4,700 is determined to be specifically uncollectible.Prepare the journal entry to write off the uncollectible account. (d)   The company collects $4,700 subsequently on a specific account that had previously been determined to be uncollectible in (c).Prepare the journal entries necessary to restore the account and record the cash collection.

Steering Corporation reported the following selected information in its general ledger at December 31: All sales were on account. Some accounts receivable were collected. One account was written off; there were no subsequent recoveries. At the end of the year, uncollectible accounts were estimated to total $1,980. Using your knowledge of receivables transactions, determine the missing amounts. (Hint: You may not be able to solve the below items in alphabetical order. In addition, you may find it helpful to reconstruct the journal entries.) Beg. bal. End, bal. (a) U (f) Accounts Receivable 17,800 Allowance for Doubtful Accounts Beg. bal. 900 Unadj. bal. End. bal. Sales Bad Debts Expense (b) (d) (e) 54,900 1,800 900 77,200

During the second year of operations, Rabbit Company found itself in financial difficulties. The entitydecided to use the accounts receivable as a means of obtaining cash to continue operation.On July 1, 2022, the entity sold P1,500,000 of accounts receivable for cash proceeds of P1,400,000. Noallowance for doubtful accounts was associated with these accounts.On December 15, 2022, the entity assigned the remainder of its accounts receivable, P5,000,000 as ofthat date, as collateral on a P2,500,000, 12% annual interest rate loan from Finance Company. The entityreceived P2,500,000 less a 2% finance charge.None of the assigned accounts have been collected by the end of the year. It is estimated that 10% ofaccounts receivable would be uncollectible.The entity revealed the following data on December 31, 2022. Accounts Receivable, excluding factored and assigned ACCOUNTS 1,000,000 Accounts receivable -assigned 5,000,000 Accounts receivable – factored 1,500,000 Allowance for doubtful…

Required: (a) Prepare journal entries to record the impairment loss of receivable in 2021 under Statement of Financial Position approach. (b) Prepare partial Statement of Financial Positions to show the accounts receivables at 31 December 2021.

Please provide answer this following requirements on these general accounting question

Okay, I have everything else in the journal entry except for the last one.  I'm attaching a picture of what I've got so you don't have to worry about explaining all of that.  Here's the original (complete) problem: Weldon Corporation’s fiscal year ends December 31. The following is a list of transactions involving receivables that occurred during 2018:  Mar.   17   Accounts receivable of $1,700 were written off as uncollectible. The company uses the allowance method.     30   Loaned an officer of the company $20,000 and received a note requiring principal and interest at 7% to be paid on March 30, 2019. May   30   Discounted the $20,000 note at a local bank. The bank’s discount rate is 8%. The note was discounted without recourse and the sale criteria are met. June   30   Sold merchandise to the Blankenship Company for $12,000. Terms of the sale are 2/10, n/30. Weldon uses the gross method to account for cash discounts. July   8   The Blankenship Company paid its account in…