(d) Journalize the following adjustments. Credit account titles are automaticall
ID: 2585993 • Letter: #
Question
(d) Journalize the following adjustments. Credit account titles are automatically indented when amount is entered. Do not in den man a·rno entry S requ ed, select No Entry for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. Round answers to O decimal places, e.g. 1,527.) (1) (2) Services performed for customers through February 27, 2017, but unbilled and uncollected were $2,890. Received notice that a customer who was billed $220 for services performed February 10 has filed for bankruptcy. Larkspur does not expect to collect any portion of this outstanding (3) (4) (5) (6) (7) (8) (9) (10) receivable Larkspur uses the allowance method to estimate bad debts. Larkspur estimates that 396 of its month-end receivables will not be collected Record 1 month of depreciation for the floor equipment. Use the straight-line method, an estimated life of 4 years, and $400 salvage value Record 1 month of insurance expense. An inventory count shows $300 of supplies on hand at February 28 One week of services were performed for the customer who paid in advance on February 17 Accrue for wages owed through February 28, 2017 Accrue for interest expense for 1 month. Karen estimates a 20% income tax rate. (Hint: Prepare an income statement up to "income before taxes" to help with the income tax calculation.) No. Account Titles and Explanation Debit Credit 2. 3. 5. 98 48Explanation / Answer
No Accounts Titles and Explanation Debit Credit 1 Accounts Receivable $2,890 Service Revenue $2,890 2 Allowance for doubtful debts $220 Accounts Receivable $220 3 Bad debts Expenses Allowance for doubtful debts 4 Depreciation Expenses Accumulated Depreciation 5 Insurance Expenses Prepaid Insurance 6 Supplies Expenses Supplies 7 Unearned Services Service Revenue 8 Salaries and wages Salaries and wages payable 9 Interest Expenses Interest Payable 10 Income Tax Expenses Income Tax Payable Question does not have all the details to show amount in journal entry, so it is not possible to show figure
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