Please show steps clearly.

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Instructions The following transactions were completed by Emmanuel Company during the current fiscal year ended December 31: Jan 29 Received 40% of the $18,200 balance owed by Jankovich Co., a bankrupt business, and wrote off the remainder as uncollectible Apr. 18 Reinstated the account of Vince Karm, which had been written off in the preceding year as uncollectible. Journalized the receipt of $7,400 cash in full payment of Karm's account Aug 9 Wrote off the $6.465 balance owed by Golden Stallion Co., which has no assets. Nov 7 Reinstated the account of Wiley Co., which had been viritten off in the preceding year as uncollectible Journalized the receipt of $3,030 cash in full payment of the account Dec 31. Wrote off the following accounts as uncollectible (one entry): Claire Moon Inc. $7,190 Jet Set Co $5,510; Randall Distributors, $9.410. Harmonic Audio, $1,205. 31 Based on an analysis of the 51,820.500 of accounts receivable, it was estimated that 536.410 will be uncollectible Journalized the adjusting entry Instructions TAccounts Jan. 29 Aug. 9 Dec. 31 Dec. 31 Unadjusted Balance Dec 31 Ad) Balance Dec. 31 Adjusting Entry Allowance for Doubtful Accounts 10,920 Jan. 1 Balance 6,465 Apr. 18 23,315 Nov. 7 Dec. 31 Adjusting Entry Bad Debt Expense 25.415 7.400 3,830 Onim Shaded cells have feedback 44240 Journal have beedback 2a Joumalize the transactions For the December 31 aquating entry, assume the $1,820,500 balance in accounts recevable reflects the adjustments made during the year Refer to the chart of accounts for the exact wording of the account seles CNOW journals do not use lines for journal explanations. Every line on a joumal page is used for debit or credit entries CNOW jouma's all automatically indent a credit entry when a credit amount is entered Question not attempted JOURNAL Score: 0/249 ACCOUNTING EQUATION CATE DESCRIPTION POST NET DEBIT CREDIT ASSETS LABUTES EQUITY Final Questions Shaded cells have feedback 3. Determine the expected pet realizable value of the accounts receivable as of December 31 (after all of the adjustments and the adjusting entry) $ Points 10/1 Feedback Check My Work Remember that net realizable value is the amount that is expected to be collected or realized 4. Assuming that instead of basing the provision for uncollectible accounts on an analysis of mates the aquating entry on December 31 had been based on an estimated expense of 36 of 1% of the sales of $1,250,000 for the year determine the following a addon for the year Points 1011 Balance in the allowance account ater the adjustment of December 31 5 Ports 10/1 Expectadataizable value of the accounts receivable as of December 311 0/1 Instructions The following transactions were completed by Emmanuel Company during the cument fiscal year ended December 31: Jan. 29 Received 40% of the $18.200 balance owed by Jankovich Co., a bankrupt business, and wrote off the remainder as uncollectible Apr. 18 Reinstated the account of Vince Karm, which had been written off in the preceding year as uncollectible. Joumalized the receipt of $7,400 cash in full payment of Karm's account: Wrote off the $6,465 balance owed by Golden Stallion Co., which has no assets. 7 Reinstated the account of Wiley Co., which had been written off in the preceding year as uncollectible Joumalized the receipt of $3.830 cash in full payment of the account 31 Wrote off the following accounts as uncollectible (one entry): Claire Moon Inc. $7,190; Jet Set Co. $5.510; Randall Distributors, 59,410; Harmonic Audio, $1.205. 31 Based on an analysis of the $1,820,500 of accounts receivable, it was estimated that $36,410 will be uncollectible Joumalized the adjusting entry Required: 1. Record the January 1 credit balance of $25,415 in a T account for Allowance for Doubtful Accounts 2 a Journalize the transactions. For the December 31 adjusting entry assume the $1,820,500 balance in accounts receivable reflects the adjustments made during the year. Refer to the chart of accounts for the exact wording of the account stes. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW joumals will automatically indent a credit entry when a credit amount is entered b. Post each entry that affects the following selected T accounts and determine the new balances: Allowance for Doubtful Accounts and Bad De Exce 3. Determine the expected net realizable value of the accounts receivable as of December 31 (after all of the adjustments and the adjusting entry) 4. Assuming that instead of basing the provision for uncollectible accounts on an analysis of receivables the adjusting entry on December 31 had been based on an estimated expense of 3 of 1% of the sales of $18.350,000 for the year, determine the following: a. Bad debt expense for the year. b. Balance in the allowance account after the adjustment of December 31. c. Expected net realizable value of the accounts receivable as of December 31. "The ending balance label is provided on the left side of the T account even when the ending balance is a credit. The unused cell on the balance line should be left blank Aug Nov Doc. CHART OF ACCOUNTS Emmanuel Company General Ledger ASSETS 110 Cash 111 Potty Cash 121 Accounts Receivable-Jankovich Co. 122 Accounts Receivable-Vince Kam 123 Accounts Receivable-Golden Station Co. 124 Accounts Receivable-Wiley Co 125 Accounts Receivable-Claire Moon Inc. 126 Accounts Receivable-Jet Set Co 127 Accounts Receivable-Randall Distributors 128 Accounts Receivable-Harmonic Audio 129 Allowance for Doubtful Accounts 131 Interest Receivable 132 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Store Equipment 192 Accumulated Depreciation Store Equipment 193 Office Equipment 194 Accumulated Depreciation Office Equipment LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable EQUITY 310 Emmanuel, Capital 311 Emmanuel, Drawing REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Merchandise Sold 520 Sales Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Store Equipment 523 Delivery Expense 524 Repairs Expense 529 Selling Expenses 530 Office Salaries Expense 531 Rant Expense 532 Depreciation Expense-Office Equipment 533 Insurance Expense 534 Office Supplies Expense $35 Store Supplies Expense 536 Credit Card Expense 537 Cash Short and Over 538 Bad Debt Expense 539 Miscellaneous Expense 710 Interest Expense T Accounts Shaded cells have feedback. 1. Record the January 1 credit balance of $25,415 in a T account for Allowance for Doubtful Accounts.* 2b. Post each entry that affects the following selected T accounts and determine the new balances: Allowance for Doubtful Accounts and Bad Debt Expense. * *The ending balance label is provided on the left side of the T account even when the ending balance is a credit. The unused cell on the balance line should be left blank. Allowance for Doubtful Accounts Jan. 29 10,920 Jan. 1 Balance 25,415 Aug. 9 6,465 Apr. 18 7,400 Dec. 31 23,315 Nov. 7 3,830 Dec. 31 Unadjusted Balance Dec. 31 Adjusting Entry 4,551 X Dec. 31 Adj. Balance 4,551 X Dec. 31 Adjusting Entry 4,551 X 4,551 X Bad Debt Expense Points: 14/19 Journal Shaded cells have feedback Journalize the transactions. For the December 31 adjusting entry, assume the $1,820,500 bala accounts receivable reflects the adjustments made during the year. Refer to the chart of accour exact wording of the account titles. CNOW journals do not use lines for journal explanations. E on a journal page is used for debit or credit entries. CNOW journals will automatically indent a dit entry when a credit amount is entered. ition not attempted. JOURNAL Score: 0/249 ACCOUNTING EQUATIC ASSETS LIABILITIES DATE DESCRIPTION POST. REF. DEBIT CREDIT Final Questions Shaded cells have feedback 3. Determine the expected net realizable value of the accounts receivable as of December 31 (after all of the adjustments and the adjusting entry). Points: 0/1 Feedback Check My Work Remember that net realizable value is the amount that is expected to be collected or realized. 4. Assuming that instead of basing the provision for uncollectible accounts on an analysis of receivables the adjusting entry on December 31 had been based on an estimated expense of 14 of 1% of the sales of $18,350,000 for the year, determine the following: a. Bad debt expense for the year. Points: 0/1 b. Balance in the allowance account after the adjustment of December 31. Points: 0/1 c. Expected net realizable value of the accounts receivable as of December 31. Points: 0/1 Instructions The following transactions were completed by Emmanuel Company during the current fiscal year ended December 31: Jan 29 Received 40% of the $18,200 balance owed by Jankovich Co., a bankrupt business, and wrote off the remainder as uncollectible Apr. 18 Reinstated the account of Vince Karm, which had been written off in the preceding year as uncollectible. Journalized the receipt of $7,400 cash in full payment of Karm's account Aug 9 Wrote off the $6.465 balance owed by Golden Stallion Co., which has no assets. Nov 7 Reinstated the account of Wiley Co., which had been viritten off in the preceding year as uncollectible Journalized the receipt of $3,030 cash in full payment of the account Dec 31. Wrote off the following accounts as uncollectible (one entry): Claire Moon Inc. $7,190 Jet Set Co $5,510; Randall Distributors, $9.410. Harmonic Audio, $1,205. 31 Based on an analysis of the 51,820.500 of accounts receivable, it was estimated that 536.410 will be uncollectible Journalized the adjusting entry Instructions TAccounts Jan. 29 Aug. 9 Dec. 31 Dec. 31 Unadjusted Balance Dec 31 Ad) Balance Dec. 31 Adjusting Entry Allowance for Doubtful Accounts 10,920 Jan. 1 Balance 6,465 Apr. 18 23,315 Nov. 7 Dec. 31 Adjusting Entry Bad Debt Expense 25.415 7.400 3,830 Onim Shaded cells have feedback 44240 Journal have beedback 2a Joumalize the transactions For the December 31 aquating entry, assume the $1,820,500 balance in accounts recevable reflects the adjustments made during the year Refer to the chart of accounts for the exact wording of the account seles CNOW journals do not use lines for journal explanations. Every line on a joumal page is used for debit or credit entries CNOW jouma's all automatically indent a credit entry when a credit amount is entered Question not attempted JOURNAL Score: 0/249 ACCOUNTING EQUATION CATE DESCRIPTION POST NET DEBIT CREDIT ASSETS LABUTES EQUITY Final Questions Shaded cells have feedback 3. Determine the expected pet realizable value of the accounts receivable as of December 31 (after all of the adjustments and the adjusting entry) $ Points 10/1 Feedback Check My Work Remember that net realizable value is the amount that is expected to be collected or realized 4. Assuming that instead of basing the provision for uncollectible accounts on an analysis of mates the aquating entry on December 31 had been based on an estimated expense of 36 of 1% of the sales of $1,250,000 for the year determine the following a addon for the year Points 1011 Balance in the allowance account ater the adjustment of December 31 5 Ports 10/1 Expectadataizable value of the accounts receivable as of December 311 0/1 Instructions The following transactions were completed by Emmanuel Company during the cument fiscal year ended December 31: Jan. 29 Received 40% of the $18.200 balance owed by Jankovich Co., a bankrupt business, and wrote off the remainder as uncollectible Apr. 18 Reinstated the account of Vince Karm, which had been written off in the preceding year as uncollectible. Joumalized the receipt of $7,400 cash in full payment of Karm's account: Wrote off the $6,465 balance owed by Golden Stallion Co., which has no assets. 7 Reinstated the account of Wiley Co., which had been written off in the preceding year as uncollectible Joumalized the receipt of $3.830 cash in full payment of the account 31 Wrote off the following accounts as uncollectible (one entry): Claire Moon Inc. $7,190; Jet Set Co. $5.510; Randall Distributors, 59,410; Harmonic Audio, $1.205. 31 Based on an analysis of the $1,820,500 of accounts receivable, it was estimated that $36,410 will be uncollectible Joumalized the adjusting entry Required: 1. Record the January 1 credit balance of $25,415 in a T account for Allowance for Doubtful Accounts 2 a Journalize the transactions. For the December 31 adjusting entry assume the $1,820,500 balance in accounts receivable reflects the adjustments made during the year. Refer to the chart of accounts for the exact wording of the account stes. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW joumals will automatically indent a credit entry when a credit amount is entered b. Post each entry that affects the following selected T accounts and determine the new balances: Allowance for Doubtful Accounts and Bad De Exce 3. Determine the expected net realizable value of the accounts receivable as of December 31 (after all of the adjustments and the adjusting entry) 4. Assuming that instead of basing the provision for uncollectible accounts on an analysis of receivables the adjusting entry on December 31 had been based on an estimated expense of 3 of 1% of the sales of $18.350,000 for the year, determine the following: a. Bad debt expense for the year. b. Balance in the allowance account after the adjustment of December 31. c. Expected net realizable value of the accounts receivable as of December 31. "The ending balance label is provided on the left side of the T account even when the ending balance is a credit. The unused cell on the balance line should be left blank Aug Nov Doc. CHART OF ACCOUNTS Emmanuel Company General Ledger ASSETS 110 Cash 111 Potty Cash 121 Accounts Receivable-Jankovich Co. 122 Accounts Receivable-Vince Kam 123 Accounts Receivable-Golden Station Co. 124 Accounts Receivable-Wiley Co 125 Accounts Receivable-Claire Moon Inc. 126 Accounts Receivable-Jet Set Co 127 Accounts Receivable-Randall Distributors 128 Accounts Receivable-Harmonic Audio 129 Allowance for Doubtful Accounts 131 Interest Receivable 132 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Store Equipment 192 Accumulated Depreciation Store Equipment 193 Office Equipment 194 Accumulated Depreciation Office Equipment LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable EQUITY 310 Emmanuel, Capital 311 Emmanuel, Drawing REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Merchandise Sold 520 Sales Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Store Equipment 523 Delivery Expense 524 Repairs Expense 529 Selling Expenses 530 Office Salaries Expense 531 Rant Expense 532 Depreciation Expense-Office Equipment 533 Insurance Expense 534 Office Supplies Expense $35 Store Supplies Expense 536 Credit Card Expense 537 Cash Short and Over 538 Bad Debt Expense 539 Miscellaneous Expense 710 Interest Expense T Accounts Shaded cells have feedback. 1. Record the January 1 credit balance of $25,415 in a T account for Allowance for Doubtful Accounts.* 2b. Post each entry that affects the following selected T accounts and determine the new balances: Allowance for Doubtful Accounts and Bad Debt Expense. * *The ending balance label is provided on the left side of the T account even when the ending balance is a credit. The unused cell on the balance line should be left blank. Allowance for Doubtful Accounts Jan. 29 10,920 Jan. 1 Balance 25,415 Aug. 9 6,465 Apr. 18 7,400 Dec. 31 23,315 Nov. 7 3,830 Dec. 31 Unadjusted Balance Dec. 31 Adjusting Entry 4,551 X Dec. 31 Adj. Balance 4,551 X Dec. 31 Adjusting Entry 4,551 X 4,551 X Bad Debt Expense Points: 14/19 Journal Shaded cells have feedback Journalize the transactions. For the December 31 adjusting entry, assume the $1,820,500 bala accounts receivable reflects the adjustments made during the year. Refer to the chart of accour exact wording of the account titles. CNOW journals do not use lines for journal explanations. E on a journal page is used for debit or credit entries. CNOW journals will automatically indent a dit entry when a credit amount is entered. ition not attempted. JOURNAL Score: 0/249 ACCOUNTING EQUATIC ASSETS LIABILITIES DATE DESCRIPTION POST. REF. DEBIT CREDIT Final Questions Shaded cells have feedback 3. Determine the expected net realizable value of the accounts receivable as of December 31 (after all of the adjustments and the adjusting entry). Points: 0/1 Feedback Check My Work Remember that net realizable value is the amount that is expected to be collected or realized. 4. Assuming that instead of basing the provision for uncollectible accounts on an analysis of receivables the adjusting entry on December 31 had been based on an estimated expense of 14 of 1% of the sales of $18,350,000 for the year, determine the following: a. Bad debt expense for the year. Points: 0/1 b. Balance in the allowance account after the adjustment of December 31. Points: 0/1 c. Expected net realizable value of the accounts receivable as of December 31. Points: 0/1