The general ledger of Pop's Fireworks includes the following account balances in 2021: Accounts Debit Credit Cash $ 22,800 Accounts Receivable 45,500 Allowance for Uncollectible Accounts $ 3,800 Supplies 9,100 Notes Receivable (8%, due in 2 years) 26,000 Land 93,000 Accounts Payable 13,900 Common Stock 138,000 Retained Earnings 30,700 Service Revenue 126,400 Salaries Expense 71,700 Utilities Expense 26,600 Supplies Expense 18,100 Totals $ 312,800 $ 312,800 In addition, the following transactions occurred during 2021 and are not yet reflected in the account balances above: June 3 Provide additional services on account for $15,000. All services on account include terms 2/10, n/30. June 8 Receive cash from customers within 10 days of the services being provided on account. The customers were originally charged $9,000. November 15 Write off customer accounts of $2,300 as uncollectible. 3. Prepare an adjusted trial balance as of December 31, 2021.
The general ledger of Pop's Fireworks includes the following account balances in 2021: Accounts Debit Credit Cash $ 22,800 Accounts Receivable 45,500 Allowance for Uncollectible Accounts $ 3,800 Supplies 9,100 Notes Receivable (8%, due in 2 years) 26,000 Land 93,000 Accounts Payable 13,900 Common Stock 138,000 Retained Earnings 30,700 Service Revenue 126,400 Salaries Expense 71,700 Utilities Expense 26,600 Supplies Expense 18,100 Totals $ 312,800 $ 312,800 In addition, the following transactions occurred during 2021 and are not yet reflected in the account balances above: June 3 Provide additional services on account for $15,000. All services on account include terms 2/10, n/30. June 8 Receive cash from customers within 10 days of the services being provided on account. The customers were originally charged $9,000. November 15 Write off customer accounts of $2,300 as uncollectible. 3. Prepare an adjusted trial balance as of December 31, 2021.
The general ledger of Pop's Fireworks includes the following account balances in 2021: Accounts Debit Credit Cash $ 22,800 Accounts Receivable 45,500 Allowance for Uncollectible Accounts $ 3,800 Supplies 9,100 Notes Receivable (8%, due in 2 years) 26,000 Land 93,000 Accounts Payable 13,900 Common Stock 138,000 Retained Earnings 30,700 Service Revenue 126,400 Salaries Expense 71,700 Utilities Expense 26,600 Supplies Expense 18,100 Totals $ 312,800 $ 312,800 In addition, the following transactions occurred during 2021 and are not yet reflected in the account balances above: June 3 Provide additional services on account for $15,000. All services on account include terms 2/10, n/30. June 8 Receive cash from customers within 10 days of the services being provided on account. The customers were originally charged $9,000. November 15 Write off customer accounts of $2,300 as uncollectible. 3. Prepare an adjusted trial balance as of December 31, 2021.
The general ledger of Pop's Fireworks includes the following account balances in 2021:
Accounts
Debit
Credit
Cash
$
22,800
Accounts Receivable
45,500
Allowance for Uncollectible Accounts
$
3,800
Supplies
9,100
Notes Receivable (8%, due in 2 years)
26,000
Land
93,000
Accounts Payable
13,900
Common Stock
138,000
Retained Earnings
30,700
Service Revenue
126,400
Salaries Expense
71,700
Utilities Expense
26,600
Supplies Expense
18,100
Totals
$
312,800
$
312,800
In addition, the following transactions occurred during 2021 and are not yet reflected in the account balances above:
June
3
Provide additional services on account for $15,000. All services on account include terms 2/10, n/30.
June
8
Receive cash from customers within 10 days of the services being provided on account. The customers were originally charged $9,000.
November
15
Write off customer accounts of $2,300 as uncollectible.
3. Prepare an adjusted trial balance as of December 31, 2021.
Definition Definition Remaining net income of the company after the required dividends are paid to shareholders. This surplus money is usually invested back into the business to expand its business operations or launch a new product.
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