Perform the following accounting for the receivables of Bronson and Moore, a law firm, at December 31,

Question:

Perform the following accounting for the receivables of Bronson and Moore, a law firm, at December 31, 2016.
Requirements
1. Set up T-accounts and start with the beginning balances for these T-accounts:
• $97,000
• Allowance for Uncollectible Accounts, $ 13,000
Post the following 2016 transactions to the T-accounts:
a. Service revenue of $702,000, all on account
b. Collections on account, $716,000
c. Write-offs of uncollectible accounts, $9,000
d. Uncollectible-account expense (allowance method), $7,000
2. What are the ending balances of and Allowance for Uncollectible Accounts?
3. Show how Bronson and Moore will report on its at December 31, 2016.
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