I s . % , Merge & Center , Number Alignment Font board Instructions: Complete th
ID: 2582717 • Letter: I
Question
I s . % , Merge & Center , Number Alignment Font board Instructions: Complete the journal entries, ending balances, and short answer questions in the Lab 3 using the information provided below. Then post all your journal entries to the T-accounts in the "T-Acco Make sure to link ALL your journal entries to the numbers provided below!! o If you don't know how to multiply cells or sum cells in excel, please use the tutorials at the bottom of this Sparkle Spa Corporation Transactions for 2015 and 2016: Provide service to customers on account Recelve cash from customers on account Estimated A/R that will not be received Provide service to customers on account Receive cash from customers for services $ 80,000 65,000 20% $73,000 $8,000 15 May 12, 2015 16 August 19, 2015 December 31, 2015 18 April 4, 2016 19 June 22, 2016 Finds out a customer who owed $2,000 now cannot pay his Account Receivable. So Sparkle Spa will write off this account 0 July 2, 2016 1 October 19, 2016 Receive cash from customers for services Estimated A/R that will not be received $2,000 $ 42,000 20% December 31, 2016 4 Multiplying cells in Excel - tutorial: Example: I want to multiply the first cell below (100,000) by the second cell below (30%). First Cell times Second Cell Second Cell 30% First Cell 100,000 30,000 28 29 11. To do this, I click on cell F27 and hit = 2. Then I click on the first cell B27 3. Then I hit CTRL and the number 8 (an asterisk sign should appear 4. Then I click on the second cell D27 and hit ENTER 3 Excel then calculates 100,000 times 30% in cell F27 5 How to caleulate the endins halance of aTaccount ine oxal ITutoriall. 0 Type here to searchExplanation / Answer
Date Account titles Debit Credit 2015 12-May Accounts receivable 80000 Service revenue 80000 (provide services to customers on account) 19-Aug Cash 65000 Accounts receivable 65000 (Received cash from customers) 31-Dec Baddebt expense 3000 Allowance for dobtful accounts 3000 (80000-65000)*20% (Estimated allowance for doubtful accounts) 2016 4-Apr Accounts receivable 73000 Service revenue 73000 (provide services to customers on account) 22-Jun Cash 8000 Accounts receivable 8000 (Received cash from customers) 2-Jul Allowance for dobtful accounts 2000 Accounts receivable 2000 (Write off baddebt expenses) 19-Oct Cash 42000 Accounts receivable 42000 (Received cash from customers) 31-Dec Baddebt expense 7200 Allowance for dobtful accounts 7200 (80000-65000+73000-8000-2000-42000))*20% (Estimated allowance for doubtful accounts) Accounts receivable Date Debit Date Credit 2015 12-May Service revenue 80000 19-Aug Cash 65000 2016 4-Apr Service revenue 73000 22-Jun Cash 8000 2-Jul Allowance for doubtful accounts 2000 19-Oct Cash 42000 Balance 36000 153000 153000 Cash Date Debit Date Credit 2015 19-Aug Accounts receivable 80000 2016 22-Jun Accounts receivable 73000 19-Oct Accounts receivable 42000 Balance 195000 195000 195000 Allowance for doubtful accounts Date Debit Date Credit 2015 31-Dec Baddebt expenses 3000 2016 2-Jul Accounts receivable 2000 31-Dec Baddebt expenses 7200 Balance 8200 10200 10200