Question: Please help with the ones in white (these were wrong) for requirment 2, 3, and 4th requirement Homework: Chapter 8 homework icore: 3.09 of 10


Homework: Chapter 8 homework icore: 3.09 of 10 pts 2 of 6 (5 complete) HW Score: 74.45%, 74.45 of 100 pt E8-18 (similar to) Question Help At January 1, 2018, Mountaintop Flagpoles had Accounts Receivable of $20,000, and Allowance for Bad Debts had a credit balance of $3,000. During the year, Mountaintop Flagpoles recorded the following: (Click the icon to view the transactions.) Read the requirements Date Accounts and Explanation Debit Credit 2018 2,100 Allowance for Bad Debts Accounts Receivable 2,100 Wrote off uncollectible accounts Requirement 2. Post Mountaintop's transactions to the Accounts Receivable and Allowance for Bad Debts T accounts Enter the beginning balances and the journal entries, and then compute the unadjusted balance of each account. Jan. 1. 2018 Bal. Net credit sales Unadj. Bal Accounts Receivable 28,000 126,000 165,000 2,100 193,000 193,000 Collections Write-offs Allowance for Bad Debts 2100 3,000 7500 6600 9600 9600 Choose from any list or enter any number in the input fields and then click Check Answer. 3 3 parts remaining Clear All Check Answer ter 8 homework 2 of 6 (5 complete) HW Score: 7 les had Accounts Receivable of $28,000, and Allowance for Bad Debts had a credit balance of $3, owing: ons.) Explanation Debit Credit 6 More Info coun a. Sales of $187,000 ($165,000 on account: $22,000 for cash). Ignore Cost of Goods Sold. b. Collections on account, $126,000. c. Write-offs of uncollectible receivables, $2,100. cransa [Print Done Done e jour ivable 26,000 2.100 Collections 2100|| 3,000 AL 206 2020L0_10 8 homework HW Score: 74.45 2 of 6 (5 complete) d Accounts Receivable of $28,000, and Allowance for Bad Debts had a credit balance of $3,000.C i Requirements 1. Journalize Mountaintop's transactions that occurred during 2018. The company uses the allowance method. 2. Post Mountaintop's transactions to the Accounts Receivable and Allowance for Bad Debts T-accounts. 3. Journalize Mountaintop's adjustment to record bad debts expense assuming Mountaintop estimates bad debts as 4% of credit sales. Post the adjustment to the appropriate T-accounts. 4. Show how Mountaintop Flagpoles will report net accounts receivable on its December 31, 2018, balance sheet. Print Done ,000 9600 9600 amber in the input fields and then click Check
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