The general ledger of Pop's Fireworks includes the following account balances in 2021: Credit Debit...
70.2K
Verified Solution
Link Copied!
Question
Accounting
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. Record the estimate of future bad debts. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2021 Record the interest accrued on note receivable. ote: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2021
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
