The general ledger of Pop's Fireworks includes the following account balances in 2024: Accounts Cash Debit $23,200 Accounts Receivable 46,500 Allowance for Uncollectible Accounts Supplies Notes Receivable ( 8 %, due in 2 years) Land Accounts Payable Common Stock Retained Earnings Service Revenue 9,700 30,000 95,000 Credit $4,200 14,300 146,000 30,900 126,800
The general ledger of Pop's Fireworks includes the following account balances in 2024: Accounts Cash Debit $23,200 Accounts Receivable 46,500 Allowance for Uncollectible Accounts Supplies Notes Receivable ( 8 %, due in 2 years) Land Accounts Payable Common Stock Retained Earnings Service Revenue 9,700 30,000 95,000 Credit $4,200 14,300 146,000 30,900 126,800
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
44.
Subject :- Accounting
![Required information
[The following information applies to the questions displayed below.]
The general ledger of Pop's Fireworks includes the following account balances in 2024:
Accounts
Cash
Accounts Receivable
Allowance for Uncollectible Accounts
Supplies
Notes Receivable ( 8 %, due in 2 years)
Land
Accounts Payable
Common Stock
Retained Earnings
Service Revenue
Salaries Expense
Utilities Expense
Supplies Expense
Totals
Debit
$23, 200
46,500
9,700
30,000
95,000
View transaction list
71,900
27, 200
Journal entry worksheet
< 1
2 3
18,700
$322, 200
November 15 Write off customer accounts of $2,500 as uncollectible.
Credit
$4,200
In addition, the following transactions occurred during 2024 and are not yet reflected in the account balances above:
June 3
June 8
Provide additional services on account for $17,000. All services on account include terms 2/10, n/30.
Receive cash from customers within 10 days of the services being provided on account. The customers were
originally charged $10,000.
Provide additional services on account for $17,000. All services on account
include terms 2/10, n/30.
14,300
146,000
30,900
126,800
Required:
1. Record each of the transactions listed above. (If no entry is required for a particular transaction/event, select "No Journal Entry
Required" in the first account field.)
$322, 200](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F83b62d92-ae46-4dd3-8277-7ec31e6fe3f8%2F8eeaf019-b400-464c-8160-82f1a3bb7254%2F6mi2uzhr_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
The general ledger of Pop's Fireworks includes the following account balances in 2024:
Accounts
Cash
Accounts Receivable
Allowance for Uncollectible Accounts
Supplies
Notes Receivable ( 8 %, due in 2 years)
Land
Accounts Payable
Common Stock
Retained Earnings
Service Revenue
Salaries Expense
Utilities Expense
Supplies Expense
Totals
Debit
$23, 200
46,500
9,700
30,000
95,000
View transaction list
71,900
27, 200
Journal entry worksheet
< 1
2 3
18,700
$322, 200
November 15 Write off customer accounts of $2,500 as uncollectible.
Credit
$4,200
In addition, the following transactions occurred during 2024 and are not yet reflected in the account balances above:
June 3
June 8
Provide additional services on account for $17,000. All services on account include terms 2/10, n/30.
Receive cash from customers within 10 days of the services being provided on account. The customers were
originally charged $10,000.
Provide additional services on account for $17,000. All services on account
include terms 2/10, n/30.
14,300
146,000
30,900
126,800
Required:
1. Record each of the transactions listed above. (If no entry is required for a particular transaction/event, select "No Journal Entry
Required" in the first account field.)
$322, 200
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education