BACKGROUND: Crystal Clear Cleaning uses the allowance method to etimate bad debts. Consider the following January transactions for Crystal Clear.

ASSIGNMENT: This question has 4 requirements.

REQUIREMENTS:

1- The accounta used by Crystal Clear Cleaning are provided jn the chart of Accounts ( send to image) .The accounts have already been opened in the general ledger

2- Prepare journal entries to record the january transactions and post the entries to the General Ledger.

Review each of the accounts in the General Ledger to see the results if posting the journal entries for the january transactions, including the changes in each account as well as rhe balance in each.

4- Review the net accounts receivable sections of the balance sheet for crystal clear cleaning as of january 31,2018(balance sheet to view)

TRANSACTIONS:

-01/01/2018 Performed cleaning service for Debbie's D-list for $9,000 on account with terms 3/10 , n/20.

-01/10/2018 Borrowed money from High Roller Bank, $20,000, making a 180 dag, %15 note.

-01/12/2018 After discussions with Merry Cleaners' Crystal Clear has determined that $275 of the receivable owed will not be collected. Wrote off this portion of the receivable.

-01/15/2018 Sold goods to Westford for $8,000 on account with terms 5/10, n/30. Cost if Goods Sold was $400.

-01/28/2018 Sold goods to Meaghan, Inc. for cash of $2,000 ( cost $350).

-01/28/2018 Collected from Merry Cleaners, $275 of receivable previously written off.

-01/29/2018 paid cash utilities of $450.

-01/31/2018 Created an aging schedule for Crystal Clear for accounts receivable. Crystal Clear determined that $8,100 of receivables were 5% uncollectible, $9,775 of receivables were 15% uncolleticble, and $850 of receivables were 30% uncollectible. Crystal Clear determined the total amount of estimated uncollectible receivables and adjusted the Allowance for Bad Debts assuming a credit balance of $240 in the account. (Round the nearest whole Dollar)

glasparsome.com/app/e/d3790417201909870c0037/problent1/business/Generatioumalew/ Problem 1: PS9-42 Background: Assignment: This the last Saroll down to see yo Crystal Cleathe allowed to had de Che following complete all it before mating your work for grading for Crystal Cina Requirements 1. The most by Crystal Clear Classided in the Chart of Accoutsidik "Chart of Acute The cave been pred in the General Ledecko w Leder to vie 2. Prepare journal entries to record they compout the tries to the Camat Reet the need to the Transactions: 01/01/2018 Performed cleaning service for Debbie's D-list for $9,000 on account with terms 3/10, 1/20 01/10/2016 Borrowed money from High Roller Bank, $20,000, making a 180 day, 15% note. 01/12/2018 Altar discusions with Merry Cleantes, Crystal clear tras determined that $275 of the receivable owed will not be collected. Wrote of this portion of the receivable Saldnood to Westford o sono account with them...Costot Gonds sold was 3400 SAVE WORK RESET RE SUBMIT WORK BU REPORT COMMANY MORMATION CHART OF ACCOGERAL JOURNAL January 1, 2018 - January 31, 2018 > Account 01/01/2015 Debit Credit formation, coding the chaiseach account well as the balance in each Review the counts receive of the balance sheet for Crystal Cles Change al of Juary 31, 2018 dick Talance Sheeto Transactions: 01/01/2018 Performed aning service for Debles D-list for $9.000 on account with terms 3/10, 1/20 01/10/2018 Borrowed money from High Roller Banke$20,000, making a 180 day, 15" note. 01/12/2018 After Glocusions with Mery Cleaners Crystal clear has determined that 5275 of the receivable owed will not be collected. Wrote off this portion of the receivable 2018 Saldmonds in West Soccount with term....Cost.cod. Soldado SAVE WORK RESET RE SUBMIT WORK REPORTS COMANY TORMATION CHART OF ACCOUNTS GORRAL JOURNAL