Question: On January 1 , 2 0 2 4 , the general ledger of 3 D Family Fireworks includes the following account balances: AccountsDebitCreditCash$ 2 6

On January 1,2024, the general ledger of 3D Family Fireworks includes the following account balances: AccountsDebitCreditCash$26,900 Accounts Receivable15,100 Allowance for Uncollectible Accounts $1,500Supplies4,000 Notes Receivable (6%, due in 2 years)19,000 Land80,400 Accounts Payable 11,000Common Stock 99,000Retained Earnings 33,900Totals$145,400$145,400 During January 2024, the following transactions occur: January 2Provide services to customers for cash, $50,100.January 6Provide services to customers on account, $87,400.January 15Write off accounts receivable as uncollectible, $3,500.(Assume the company uses the allowance method)January 20Pay cash for salaries, $32,900.January 22Receive cash on accounts receivable, $85,000.January 25Pay cash on accounts payable, $7,000.January 30Pay cash for utilities during January, $15,200.3. Prepare an adjusted trial balance as of January 31,2024, after updating beginning balances (above) for transactions during January (requirement 1) and adjusting entries at the end of January (requirement 2).
Can you make Adjusted Trial Balance.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!