The following transactions apply to Jova for 2019:
Recognized $75,500 of service revenu...
The following transactions apply to Jova for 2019:
Recognized $75,500 of service revenue on account.
Collected $68,400 from accounts receivable.
Determined that $960 of the accounts receivable were uncollectible and wrote them off.
Collected $100 of an account that had previously been written off.
Paid $49,100 cash for operating expenses.
Adjusted the accounts to recognize uncollectible accounts expense for 2019. Jova estimates uncollectible accounts expense will be 1.0 percent of sales on account.
Prepare the income statement, statement of changes in stockholders’ equity, balance sheet, and statement of cash flows for 2019.
Answers: 2
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