Simon Company of Bathurst completed the following transactions:

Additional Data

Required
a. Journalize the transactions.
b. Post to Allowance for Doubtful Accounts, Income Summary, or Bad Debts Expense as needed. (Be sure to record the beginning balance in the allowance account in your workbook.)
c. Prepare a current assets section of the balance sheet. Ending balances needed: Cash, $13,000; Accounts Receivable, $160,000; Office Supplies, $2,110; Merchandise Inventory, $103,000; Prepaid Rent, $1,250; and your calculated balance for Allowance for Doubtful Accounts.

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2013 Sold merchandise on account to Ray's Supply, $1,500 Wrote off the account of Pete Runnels as uncollectible because of his death, $600. Received $400 from Roland Co., whose account had been written off in 2011. The account was reinstated and the collection recorded Received 10% of the $4,000 owed by Lane Drug. The remainder was written off as uncollectible The account of Mel's Garage was reinstated for $1,200 (amount received). The account was written off three years ago. Prepared a compound entry to write the following accounts off as uncollectible: Jane's Diner, $200; Keen Auto, $400; Ralph's Hardware, $600. Jan. 8 15 Mar. 15 Apr. 9 June 14 Oct. 18 ov. 12 Sold merchandise on account to J.B. Rug, $1,900 Dec. 3 On the basis of an aging of accounts receivable, it was esti- mated that $7,000 will be uncollectible out of a total of $160,000 in Accounts Receivable. Closed Bad Debts Expense to Income Summary. 31 Account Allowance for Doubtful Accounts Income Summary Bad Debts Expense No. BalanceDr./Cr 114 312 612 $4,100 Cr-Jan. 1, 2013