ork B $-$ Graded

Question $2,$ EF$9-20($similar to$)$

Part $6$ of $7$

HW Score: $18\mathrm{.}18\%,3\mathrm{.}82$ of $21$ points

Points: $2\mathrm{.}82$ of $5$

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At January $1,2024,$ Winding Mountain Flagpoles had Accounts Receivable of $$32,000,$ and Allowance for Bad Debts had a credit balance of $$3,000.$ During the year, Winding Mountain Flagpoles recorded the following transactions for January:

i $($Click the icon to view the transactions.$)$

Read the equirements

zero balances.$)$

$\backslash$table$[[$Accounts Receivable,Allowance for Bad Debts$],[$Jan$.1,2024$ Bal.,$32,000,132,000$ Collections,Write$-$offs,$2,400,3,000$ Jan. $1,2024$ Bal$],[$Net credit sales,$156,000,2,400$ Write$-$offs,,,$],[$Unadj$.$ B$$l$.,53,600,,,,600$ Unadj. Bal.$]]$

$\backslash$table$[[$Bad Debts Expense,$],[,,],[,,],[,,]]$

ages

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$9$:$22$ PM

$\frac{7}{29}\frac{?}{2024}$

Requirements

Journalize Winding's transactions that occurred during January. The company uses the allowance method.

Post Winding's transactions to the Accounts Receivable and Allowance for Bad Debts T$-$accounts.

Journalize Winding's adjustment to record bad debts expense assuming Winding estimates bad debts as $13\%$ of accounts receivable on January $31,2024.$ Post the adjustment to the appropriate T$-$accounts.

Show how Winding Mountain Flagpoles will report net accounts receivable on its January $31,2024,$ balance sheet.

a$.$ Sales of $$173,000($ $$156,000$ on account, $$17,000$ for cash$).$ Ignore Cost of Goods Sold.

b$.$ Collections on account, $$132,000.$

c$.$ Write$-$offs of uncollectible receivables, $$2,400.$

ork B $-$ Graded

Question $2,$ EF$9-20($similar to$)$

HW Score: $18\mathrm{.}18\%,3\mathrm{.}82$ of $21$ points

Part $6$ of $7$

Points: $2\mathrm{.}82$ of $5$

At January $1,2024,$ Winding Mountain Flagpoles had Accounts Receivable of $$32,000,$ and Allowance for Bad Debts had a credit balance of $$3,000.$ During the year, Winding Mountain Flagpoles recorded the following transactions for January:

$($i$)($Click the icon to view the transactions.$)$

Read the requirements.

zero balances.$)$

$\backslash$table$[[$Accounts Receivable,Allowance for Bad Debts$],[$Jan$.1,2024$ Bal.,$32,000,132,000$ Collections,Write$-$offs,$2,400,3,000$ Jan. $1,2024$ Bal$],[$Net credit sales,$156,000,2,400$ Write$-$offs,,,$],[$Unadj$.$ Bal.,$53,600,,,,600$ Unadj. Bal.$]]$

$\backslash$table$[[$Bad Debts Expense$],[,,],[,,],[,,]]$