Chapter 7 Problem Pelham Company started operations in 2013. During the year, it provided $318,000 in services to customers on account and collected $270,000 in cash from its accounts receivable. At the end of the year, it adjusted its accounts based on the estimate that I percent of the revenue on account would not be collected Required a) Prepare the journal entries to record all the transactions related to accounts receivable. a) Account Titles Debit Credit b) What was the net realizable value of Pelham's accounts receivable at the end of 2013