The September 30, 2022, records of New York Communications include these accounts: 

During the year, New York Communications estimates Uncollectible-account expense at 1% of credit sales. At year-end (December 31), the company ages its receivables and adjusts the balance in Allowance for Uncollectible Accounts to correspond to the following aging schedule. 

During the last quarter of 2022, the company completed the following selected transactions: 

Requirements

1. Record the transactions for the last quarter of 2022 in the journal. Explanations are not required.

2. Prepare a T-account for Allowance for Uncollectible Accounts with the appropriate beginning balance. Post the entries from requirement 1 to that account.

3. Show how New York Communications will report its accounts receivable in a comparative balance sheet for 2021 and 2022. At December 31, 2021, the company’s Accounts Receivable balance was $212,000, and the Allowance for Uncollectible Accounts stood at $4,300 credit balance.

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Accounts Receivable................ Allowance for Doubtful Accounts. $244,000 (8,000)