133.Pence Company began 2013 with a balance of $74,000 in accounts receivable and $4,300 in allowance for doubtful accounts. During the year, it provided $328,000 in services to customers on account...

133.Pence Company began 2013 with a balance of $74,000 in accounts receivable and $4,300 in allowance for doubtful accounts. During the year, it provided $328,000 in services to customers on account and collected $290,000 in cash from its accounts receivable. Pence wrote off $3,250 of uncollectible accounts during 2013. At the end of the year, the company prepared an aging schedule and adjusted its accounts based on the estimate that $6,300 of receivables would not be collected.


Required:


a) Prepare the journal entries to record all the transactions related to accounts receivable, including the estimate of uncollectible accounts expense.
b) What was the net realizable value of Pence's accounts receivable at the end of 2013?

134.Java King Espresso Machine Company makes many of its sales on account. For 2013, its beginning balance in Accounts Receivable was $95,000. Sales on account for the year were $452,000, and the amount of cash collected from its accounts receivable was $414,950. During the year, uncollectible accounts of $5,050 were written off. What was the ending balance in Accounts Receivable?