(Solution) - The September 30 2014 records of Synetics Computers show Accounts Receivable -(2025 Original AI-Free Solution)

Paper Details

The September 30, 2014, records of Synetics Computers show:
Accounts Receivable ...................................................................................... $114,000
Allowance for Uncollectible Accounts ........................................................... (4,100)
At year-end, Synetics ages its receivables and adjusts the balance in Allowance for Uncollectible Accounts to correspond to the aging schedule. During the last quarter of 2014, Synetics completed the following selected transactions:
2014
Oct. 31 Wrote off the following accounts receivable as uncollectible: Cisco Foods, $300; Tindall Storage, $400; and Tiffany Energy, $1,100.
Dec. 31 Adjusted the Allowance for Uncollectible Accounts and recorded bad debt expense at year-end, based on the aging of receivables, which follows.

Requirements
1. Record the transactions in the journal. Explanations are not required.
2. Prepare a T-account for Allowance for Uncollectible Accounts, and post to that account.
3. Show two ways Synetics Computers could report its accounts receivable in a comparative balance sheet for 2013 and 2014. At December 31, 2013, the company's Accounts Receivable balance was $111,000 and the Allowance for Uncollectible Accounts stood at $3,700.