Question

please help me solve requirements for this problem

The September 30, 2019, records of First Data Communications include these accounts: (Click the icon to view the September 30, 2019 account balances.) During the year. First Data Communications estimates Uncollectible-account expense at 1% of credit sales. At year-end (December 31), the company ages its receivables and adjusts the balance in the Allowance for Uncollectible Accounts to correspond to the following aging schedule. (Click the icon to view the Accounts Receivable balance and aging schedule to be used at December 31, 2019.) During the last quarter of 2019, the company completed the following selected transactions: (Click the icon to view the selected transactions.) Read the requirements. Date Accounts Debit Credit - Requirements X Nov 1,900 30 Allowance for Uncollectible Accounts Accounts Receivable-Black Carpets Accounts Receivable-Priceless Antiques 1,700 200 Adjusted the Allowance for Uncollectible Accounts and recorded doubtful-account expense at year-end, based on the aging of receivables. Journal Entry 1. Record the transactions for the last quarter of 2019 in the journal. Explanations are not required. 2. Prepare a T-account for Allowance for Uncollectible Accounts with the appropriate beginning balance. Post the entries from requirement 1 to that account. Show how First Data Communications will report its accounts receivable in a comparative balance sheet for 2018 and 2019. (Use the three-line reporting format.) At December 31, 2018, the company's Accounts Receivable balance was $214.000, and the Allowance for Uncollectible Accounts stood at $5,000 (Be sure to use the December 31, 2019 aging schedule given in the problem data.) Date Accounts Debit Credit 24 Dec 31 Uncollectible-Account Expense Allowance for Uncollectible Accounts Print Done Choose from any list or enter any number in the input fields and then click Check Answer.

Answer 1

Part 1

Date	Accounts	Debit	Credit
Dec. 31	Doubtful­ Account Expense	12010
	Allowance for Doubtful Accounts (18310+1900-8200)		12010

	Age of accounts
	1-30 days	31-60 days	61-90 days	Over 90 days
Accounts receivable	130000	50000	11000	44000
Estimated percent uncollectible	0.2%	2%	15%	35%
Uncollectible amount	$260	$1000	$1650	$15400	$18310

Part 2

Allowance for Doubtful Accounts
		Bal.	8200
Write­ off	1900	Expense	12010
		Bal.	18310

Part 3

First Data Communications Comparative Balance Sheet (partial) December 31, 2019 and 2018
	2019	2018
Accounts receivable	235000	214000
Less: Allowance for doubtful accounts	(18310)	(5000)
Accounts receivable, net	$216690	$209000