The unadjusted trial balance for Lamb Company at December 31, 2025 is as follows: LAMB COMPANY Unadjusted Trial Balance Year Ended December 31, 2025 Debit Credit Accounts Receivable $21,000 Supplies 4,600 Prepaid rent 2,200 Equipment 110,000 Accumulated depreciation - equipment $17,000 Bank overdraft 6,000 Accounts Payable 9,800 Note Payable 6,400 Unearned revenue 6,000 K. Lamb, capital 99,000 K. Lamb, drawings 19,500 Service revenue 102,800 Promotion expense 27,000 Insurance expense 5,000 Rent expense 15,000 Salaries expense 36,700 Maintenance expense 6,000 Totals $247,000 $247,000 The following information was prepared by Lamb Company's controller to help prepare the December 31, 2025 adjusting entries: 1. The company has earned revenue totaling $6,000 that has not been invoiced. 2. The expired portion of prepaid rent is $750. 3. The earned portion of the Unearned revenue at December 31, 2025 is $2,750 4. Depreciation expense for the Equipment has been calculated as $12,000. 5. Employees have earned but have not been paid salaries of $6,800. Required: a) Prepare the adjusting entries that Lamb Company should record at the year ended December 31, 2025. b) Prepare the appropriate reversing entries relating to the adjustments made in (a) above.

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…

As Perry Materials Supply was preparing for the year-end close, their balances were as follows:   Accounts Receivable - $146000 (dr) Allowance for uncollectible accounts - $6200 (dr) Uncollected Account Expense - $0 Perry Materials uses the aging method and has completed the following analysis of the accounts  receivable:   Customer  1-30 Days  31-60 Days 61-90 Days   Over 90  Days Total   Balance Johnson  $4,600  $3,200      $7,800  Hot Pots, Inc.      800  1,000  1,800  Potter  40,000  550      40,550  Harrison    3,600  900    4,500  Marx      2,000  50  2,050  Younger  65,000        65,000  Merry Maids  5,900        5,900  Acher  12,000  6,400      18,400  Totals  $127,500  $13,750  $3,700  $1,050  $146,000  Uncollectible percentage  2%  10%  20%  40%   Estimated uncollectible  amount  $2,550  $1,375  $740  $420  $5,085    Required:  How much will the…

At the end of the fiscal year, Accounts Receivable has a balance of R100 000 and allowance for doubtful accounts has a balance of R7 000. The expected net realizable value of the accounts receivable is________. Select one: a. R107 000 b. R7 000 c. R93 000 d. R100 000

During 2018, its first year of operations, Pave Construction provides services on account of $144,000. By the end of 2018, cash collections on these accounts total $102,000. Pave estimates that 20% of the uncollected accounts will be bad debts. Record the adjustment for uncollectible accounts on December 31, 2018

DO NOT GIVE SOLUTION IN IMAGE

12/31/2020: During 2020, $10,000 in accounts receivable were written off. At the end of the second year of operations, Yolandi Company had $1,000,000 in sales and accounts receivable of $400,000.  XYZ’s management has estimated that $17,000 in accounts receivable would be uncollectible.  For the end of 2020, after the adjusting entry for bad debts was journalized, what is the balance in the following accounts: Bad debt expense:  Allowance for doubtful accounts:  For the end of 2020, what is the company's net realizable value?

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.

What amount of doubtful account expense should Zee Company report for the current year?  What total amount of expenses should X Company recognize in the fourth quarter?  What total amount of loss on factoring should Y Company recognize in the current year?

Pharoah Ltd. prepared an aging of its accounts receivable at December 31, 2023 and determined that the net realizable value of the receivables was $324800. Additional information for calendar 2023 follows: Allowance for expected credit losses, beginning $38080 Uncollectible account written off during year 25760 Accounts receivable, ending 358400 Uncollectible accounts recovered during year 5600 For the year ended December 31, 2023, Pharoah's loss on impairment should be $20000. $15680. ○ $17920. $25760.