Score 0 of 1 pt 1012o complete HW Score 0 0 of E918 simila

Score: 0 of 1 pt | 1012(o complete) ? HW Score: 0%, 0 of E9-18 (similar to) Question Help At January 1, 2018, Eagle Mountain Flagpoles had Accounts Receivable of $33,000, and llowance for Bad Debts had a credit balance of $4,000. During the year ts: Eagle Mountain Flagpoles recorded the following mew Cick the icon to view the transactions) Read the tequirements Requirement 1. Journalize Eagle\'s transactions that occurred during 2018. The company uses the allowance method (Record debits first, then credits Select the (a)Sales of $177000 (5162,000 on account $15,000 for cash) Ignore Cost of Goods Sold (Prepare a single compound journal entry ) -18 (sit explanation on the last line of the journal entry table) Date Debit CreditMore into Accounts and Explanation what to 2018 Sales of $177,000 ($162,000 on account $15,000 for cash) Ignore Cost of Goods Sold a. b. Collections on account, $136,000 c. Write-offs of uncollectible receivables, $2,100 course (ACC yright 2018P Print Done Choose ftrom any lst or enter any number in the input fieds and then dlick Check Answer clear All Check Answer remaining

Solution

S.N Date Account Titles and Explanation Debit Credit 2018 (a) Accounts Receivable 162000 Cash 15000 Sales Revenue 177000 (b) Cash 136000 Accounts Receivable 136000 (c) Allowance for Bad Debts 2100 Accounts Receivable 2100 Date Account Titles and Explanation Debit Credit 2018 Sept 1 Notes Receivable- Mc Cabe 15000 Cash 15000 Nov 6 Notes Receivable- Green Masters 16000 Sales Revenue 16000 Nov 30 Interest Receivable 690 Interest Revenue 690 ($15,000 ×0.12 ×3/12)+($16,000 ×0.06 ×90/360) Cash 16960 Interest Receivable 240 Interest Revenue 720 Notes Receivable- Green Masters 16000 2019 Sept 1 Cash 16800 Interest Receivable 450 Interest Revenue 1350 Notes Receivable- Mc Cabe 15000