Question

Perform the following accounting for the receivables of Cavanaugh and Johnson, an accounting firm, at December 31, 2017 Requirements Requirements 1. and 2. Let's prepare the T-accounts for accounts receivable and allowance for uncollectible accounts. (Leave any unused cells blank.) Accounts Receivable Allowance for Uncollectible Accounts Beg, bal Beg bal. End, bal End, bal Requirement 3. Show two ways Cavanaugh and Johnson could report accounts receivable on its balance sheet at December 31, 2017. (Use parentheses or a minus sign to indicate numbers to be subtracted.) Now, let's show an alternate method of reporting accounts receivable on the balance sheet at December 31, 2017 Choose from any list or enter any number in the input fields and then continue to the next question,

Answer 1

Below is the table showing desired results: -

Accounts Receivable
Beginning Balance	84000	Collections	790000
Service Revenue	858000	Write-off	8000
Closing Balance	144000
Allowance for Uncollectible Accounts
Write-off	8000	Beginning balance	9000
		Uncollectible account expense	5000
		Closing balance	6000
Ending balances of Accounts Receivable			144000
Ending balances of allowance for Uncollectible Accounts			6000
Cavanaugh and Johnson
Balance Sheet (Partial)
Dec. 31, 2017
Accounts Receivable	144000
Less: Allowance for doubtful accounts	-6000
Accounts Receivable, net		138000