Question

On January 1, 2021, the general ledger of 3D Family Fireworks includes the following account balances: Credit Debit $ 26, 100 14,700 $ 3,000 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Supplies Notes Receivable (6%, due in 2 years) Land Accounts Payable Common Stock Retained Earnings Totals 3,600 15,000 80,000 7,900 95,000 33,500 $139,400 $139,400 During January 2021, the following transactions occur. January 2 Provide services to customers for cash, $46,100. January 6 Provide services to customers on account, $83,400. January 15 Write off accounts receivable as uncollectible, $2,500. January 20 Pay cash for salaries, $32,500. January 22 Receive cash on accounts receivable, $81,000. January 25 Pay cash on accounts payable, $6,600. January 30 Pay cash for utilities during January, $14,800. The following information is available on January 31, 2021.

Answer 1

			$	$
1	cash	Dr	46,100
	services	Cr		46,100
2	accounts receivable	Dr	83,400
	services	Cr		83,400
3	Allowances for account receivable	Dr	12,500
	accounts receivable	Cr		2,500
4	Salaries	Dr	32,500
	cash	Cr		32,500
5	cash	Dr	81,000
	accounts receivable	Cr		81,000
6	accounts payable	Dr	6,600
	cash	Cr		6,600
7	Utilities	Dr	14,800
	cash	Cr		14,800
8	Bad debts	Dr	1,330
	Allowances for account receivable	Cr		1,330
	(4000*20% + 10600*5%)
9	Supplies expense	Dr	2,800
	Supplies	Cr		2,800
10	Accrued interest	Dr	75
	interest revenue	Cr		75
11	Salaries	Dr	34,600
	Unpaid salaries	Cr		34,600