$($b$)$

Prepare the current assets section of the balance sheet for Sheridan Company. Assume that in addition to the receivables it has

cash of $$92,200,$ inventory of $$134,100,$ and prepaid insurance of $$8,100.($List Current Assets in order of liquidity.$)$

SHERIDAN COMPANY

Balance Sheet $($Partial$)$

$

$

$

$

eTextbook and Media

List of AccountsPrepare the journal entry to record the estimated uncollectibles. $($Credit account titles are automatically indented when amount

is entered. Do not indent manually.$)$

Account Titles and Explanation

Debit

Credit

eTextbook and Media

List of Accounts

Attempts: $0$ of $5$ used

$($b$)$

Prepare the current assets section of the balance sheet for Sheridan Company. Assume that in addition to the receivables it has

cash of $$92,200,$ inventory of $$134,100,$ and prepaid insurance of $$8,100.($List Current Assets in order of liquidity.$)$

SHERIDAN COMPANY

Balance Sheet $($Partial$)$During its first year of operations, Sheridan Company had credit sales of $$3,596,600$;$$660,700$ remained uncollected at year$-$end. The

credit manager estimates that $$43,200$ of these receivables will become uncollectible.

$($a$)$

Prepare the journal entry to record the estimated uncollectibles. $($Credit account titles are automatically indented when amount

is entered. Do not indent manually.$)$

Account Titles and Explanation

Debit

Credit

eTextbook and Media

List of Accounts

Attempts: $0$ of $5$ used