Required information Exercise 5-22A Complete the accounting cycle using receivable transactions (L05-1, 5-2,5-4,5-5, 5-7) (The following information applies to the questions displayed below.) The general ledger of Pop's Fireworks includes the following account balances in 2021: Credit Debit $ 21,200 41,500 $ 2,200 6,700 10,000 85,000 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Supplies Notes Receivable (8%, due in 2 years) Land Accounts Payable Common Stock Retained Earnings Service Revenue Salaries Expense Utilities Expense Supplies Expense Totals 12,300 106,000 29,900 124,800 70,900 24,200 15,700 $275,200 $275,200 In addition, the following transactions occurred during 2021 and are not yet reflected in the account balances above: June 3 Provide additional services on account for $7,000. All services on account include terms 2/10, n/30. June 8 Receive cash from customers within 10 days of the services being provided on account. The customers were originally charged $5,000. November 15 write off customer accounts of $1,500 as uncollectible. Exercise 5-22A Part 2 2. Record the following adjusting entries on December 31. (l no entry is required for a particular transaction/event, select "No Journal Entry Required" In the first account field.) a. Estimate that 10% of the balance of accounts receivable (after transactions in requirement 1) will not be collected. b. Accrue interest on the note receivable of $10,000, which was accepted on October 1, 2021. Interest is due each September 30. Answer is complete but not entirely correct. General Journal No Date Debit Credit 1 Dec 31, 2021 41.500 Bad Debt Expense Allowance for Uncollectible Accounts 41.500 X Dec 31, 2021 N 10,000 X Interest Receivable Interest Revenue 10.000 Exercise 5-22A Part 3 3. Prepare an adjusted trial balance as of December 31, 2021. Debit Credit POP'S FIREWORKS Adjusted Trial Balance December 31, 2021 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Supplies Notes Receivable Land Accounts Payable Common Stock Retained Earnings Service Revenue Salaries Expense Utilities Expense Supplies Expense Sales Discounts Totals S S 0