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Skipper Map Company's balance sheet at December 31, 2023, reported the following Click the icon to view the data.) Read the requirements Requirement 1. How much of the receivables did Skipper expect to collect? Stated differently, what was the net realizable value of these receivables? The net realizable value of those receivables is $ 47,500 Requirement 2. Joumalize, without explanations, 2024 entries for Skipper and post to the Accounts Receivable and Alowance for Bad Debts T-accounts, Begin with the Journal entries (Record debits first, then credits. Exclude explanations from ournal entries.) a. Total credit sales for 2024 were $150,000 (ignore Cost of Goods Sold) Accounts and Explanation Data table Debit Date Credit 2024 (a) 150,000 $ Accounts Receivable Salos Revenue Accounts Receivable Less: Allowance for bad debts 50.000 2,500 150,000 Print Done Credit b. Skippor recolved cash payments on account during 2024 of $120.000 Date Accounts and Explanation Debit 2024 Cash 120,000 Accounts Receivable 120.000 opet Map Company's balance sheet ot December 31, 2023, reported the following E. Click the loon to view the data) Read the girements Debit Credit c. Accounts receivable entried to be collectible totaled $10.500 Date Accounts and Explanation 2024 (c) Alowance for Badet Accounts Receivable 10,500 10.500 Pout to the Accounts Receivable and lowance for Bad Debts T-accounts. The opening balances, as provided in te question have been entered for you. Post the current year transactions you reconded above to these two the appropriate side of each account accounts using the corresponding letters (a, b.cas posting relatences. After posting, calculate the unadjusted balance of each account by selecting an "Unad sporting reference and entering the adjusted balance on Be themelore you regard above Accounts Receivable Allowance for Bad Debts 300 1.2024. Bal 50.000 120.000 10.500 2.500 1.2024. Bal a) 150.000 10.500 Unada 60.500 Unatal 8.000 Requirement. Record reading entry to recognizabad debts expense using the following independent stations, and the post to the Bad Debts Expense and lowance for ad Debts T-accounts 2.6% of credit sales were extmated to be uncollectible. Begin by recording the adjusting entry to recognize bad debes expense. (Hecordos fine the credentoncludeerplanasema brojumal enter) (c) Skipper Map Company's balance sheet at December 31, 2023, reported the following Click the icon to view the data) Read the requirements Requirement 3. Record the adjusting entry to recognize bed dobis expense using the following independent stations and then post to the Bad Debts Expense and lowance for Bad Debts T-accounts 2.6% of credit sales were estimated to be uncolectible. Begie by recording the adjusting entry to recognize bed debts expense. (Record debits fint. the credits Exclude explorations from oumal entries) Date Accounts and Explanation Debit Credit 2024 Dec 31 Bad Debts Expense 9.000 Alowance for Bad Dobles a 9.000 3.6% of credit sales were estimated to be uncollectible Enter the unadusted balance of the Allowance for Bad Deble account from Requirement 2 wong wen an "Und Badpotting retrench to the first line of the Alowance for Bad Debte TaccountPout the adjusting entry for balance along with 31, 2024. Bol posting to appropriate side of each account a preceding two to the lowance for Bed Debts and Bad Debte pente account long wman "A" posting atenenco Abor posting the entry, calculate the adjusted balance of the accounts and chat the dusted Be the account you to do in Reument Allowance for lad Debte Bad Debts Expanse Unad 8,000 A 9,000 9.000 A Dec. 31.2024 1,000 Dec 31, 2024 b. An aging of receivables indicates that $6.000 of the receives are estimated to be uncollectible. Degin by recording the cutting entry to recognised bts pense Record debt in de por Map Company's balance sheet of December 31, 2023, reported the following: Click the icon to view the data had the regurements 9.000 5% of credit sales were estimated to be uncollectie or the unadjusted balance of the Allowance for Bad Debts account from Requirement 2. Mong with an 'Unadj. Balposting reference to the first line of the lowance for Bad Debts account. Post the aquising entry preceding step to the Allowance for Bad Debis and Bad Debts Expense accounts along with and posting reference After posting the entry, calculate the adjusted balance of the accounts and enter the adjuste blancolong with a "Dec 31, 2024. Bal posting reference to the appropriate side of each account evew the lowance T-account that you posted to in Heurement 2 Allowance for Bad Debts Bad Debts Expense Une Bar 3,000 M 9.000 Ad Dec 31, 2024 B 1,000 Dec 31,2024, B 6. Anaging of receivables indicates that 56,000 of the receivables are estimated to be uncollectible egin by recording the adjusting entry to recognize bad debt pense acord cotita frut then credits Exclude explanations from ouma entre) Bew. Taccount that you used to in Bremen 2 Date Accounts and Explanation Debit Credit 2024 Dec 31 Award for Bed De Bad Das Expo 2.000

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