Question

closing expense account, Thank you

On January 1, 2021, the general ledger of 3D Family Fireworks includes the following account balances Credit Debit $ 27,900 15,600 $ 4. see Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Supplies Notes Receivable (6%, due in 2 years) Land Accounts Payable Common Stock Retained Earnings Totals 4,500 24.ee 89,90 14.000 4,400 $152.9ee During January 2021, the following transactions occur January 2 Provide services to customers for cash, $55,100. January 6 Provide services to customers on account, $92,400. January 15 write off accounts receivable as uncollectible, $4,5ee. January 20 Pay cash for salaries, $33,4ee. January 22 Receive cash on accounts receivable, 590,000 January 25 Pay cash on accounts payable, $7,500. January 3e Pay cash for utilities during January, $15,700. The following information is available on January 31, 2021. a. The company estimates future uncollectible accounts. The company determines $4.900 of accounts receivable on January 31 are past due, and 20% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 5% of these accounts are estimated to be uncollectible. (Hint: Use the January 31 accounts receivable balance calculated in the general ledger.) b. Supplies at the end of January total $950. c. Accrued Interest revenue on notes receivable for January. Interest is expected to be received each December 31 d. Unpaid salaries at the end of January are $35,500. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet avance she Analysis

Answer 1

Account Titles	Debit	Credit
Income summary	87420
Salaries expense		68900
Bad debt expense		1410
Utilities expense		15700
Supplies expense		1410
(To close expense accounts)