The September 30, 2019, records of New York Communications include these accounts:

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

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 2019, the company completed the following selected transactions:

Requirements

1. Record the transactions for the last quarter of 2019 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 2018 and 2019. (Use the three-line reporting format.) At December 31, 2018, the company’s Accounts Receivable balance was $212,000, and the Allowance for Uncollectible Accounts stood at $4,300.

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Age of Accounts Accounts Receivable 31–60 Days 1-30 Days 61–90 Days Over 90 Days $49,000 $17,000 $28,000 35% $238,000 Estimated percent uncollectible $144,000 0.2% 2% 15% Nov 30 Wrote off as uncollectible the $1,300 account receivable from Clupper Carpets and the $500 account receivable from Medina Antiques. Dec 31 Adjusted the Allowance for Uncollectible Accounts and recorded uncollectible-account expense at year-end, based on the aging of receivables.