question exercise 5 21 complete the accounting cycle using receivable transactions l 4304315

Question

Exercise 5-21 Complete the accounting cycle using receivable transactions (LO5-1, 5-3, 5-4, 5-5, 5-7, 5-8) IThe following information applies to the questions displayed below.j On January 1, 2018, the general ledger of 3D Family Fireworks includes the following account balances: Accounts Debit Credit 24,700 Cash Accounts Receivable 14.000 Allowance for Uncollectible Accounts 600 2,900 Supplies Notes Receivable (5%, due in 2 years) 24,000 77,400 8,600 Land Accounts Payable Common Stock 100,000 32,800 Retained Earnings Totals $143,000 $143,000 During January 2018, the following transactions occur: January 2 Provide services to customers for cash, $39.100 January 6 Provide services to customers on account, $76,400 January 15 Write off accounts receivable as uncollectible, $1,400 January 20 ay cash for salaries, $31,800. January 22 Receive cash on accounts receivable, $74,000 January 25 Pay cash on accounts payable, $5,900. January 30 Pay cash for utilities during January, $14,100.