Question 1 of 1 18.01 / 505 Your Answer Correct Answer (Used) Journalize the following adjustments. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Record journal entries in the order presented in the problem. Round answers to decimal places, e.g. 1,527.) 1. 2. 3. 4. 5. Services performed for customers through February 27, 2022, but unbilled and uncollected were $4,710. Received notice that a customer who was billed $250 for services performed February 10 has filed for bankruptcy. Marin Cleaning Services does not expect to collect any portion of this outstanding receivable. Marin Cleaning Services uses the allowance method to estimate bad debts. Marin Cleaning Services estimates that 3% of its month-end receivables will not be collected. Record 1 month of depreciation for the floor equipment. Use the straight-line method, an estimated life of 4 years, and $620 salvage value. Record 1 month of insurance expense. An inventory count shows $500 of supplies on hand at February 28. One week of services were performed for the customer who paid in advance on February 17. Accrue for wages owed through February 28, 2022. Accrue for interest expense for 1 month. Karen estimates a 20% income tax rate. (Hint: Prepare an income statement up to "income before taxes" to help with the income tax calculation.) 6. 7. 8. 9. 10. No. Account Titles and Explanation Debit Credit 1. Accounts Receivable 4,710 Service Revenue 4,710 2. Allowance for Doubtful Accounts 250 Accounts Receivable 250 - W P 0 P P6 Question 1 of 1 18.01 / 50 2. Allowance for Doubtful Accounts 250 Accounts Receivable 250 3. Bad Debt Expense 596 Allowance for Doubtful Accounts 596 4. Depreciation Expense 112 Accumulated Depreciation-Equipment 112 5. Insurance Expense 1,017 Prepaid Insurance 1,017 6. 6 Supplies Expense 720 Supplies 720 7. Unearned Service Revenue 171 Service Revenue 171 8. Salaries and Wages Expense 2,400 Salaries and Wages Payable 2,400 9. Interest Expense 50 Interest Payable 50 10. Income Tax Expense 957 Income Taxes Payable 957 Question 1 of 1 18.01 / 50 Post adjusting entries to the T-accounts. (Post entries in the order of journal entries presented above.) Cash 2/1 16,120 2/1 11,180 2/1 9,920 2/1 270 2/5 4,900 2/5 3,050 2/17 6842/18 370 2/25 3.1002/20 1,110 2/24 4,800 2/27 270 2/28 2,041 2/28 Bal. 11,633 Accounts Receivable 2/16 4,840 2/25 3.100 2/23 5,330