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Perform the following accounting for the receivables of Isaacson and Rubenstein, a law firm, at...

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Perform the following accounting for the receivables of Isaacson and Rubenstein, a law firm, at December 31, 2021. Read the requirements. a. Service revenue of $696,000, all on account b. Collections on account, $718,000 c. Write-offs of uncollectible accounts, $5,000 d. Uncollectible-account expense (allowance method), $6,000. What are the ending balances of Accounts Receivable and Allowance for Uncollectible Accounts? Requirements 1. Start with the beginning balances for these T-accounts: - Accounts Receivable, $97,000 - Allowance for Uncollectible Accounts, $12,000 Post the following 2021 transactions to the T-accounts: a. Service revenue of $696,000, all on account b. Collections on account, $718,000 c. Write-offs of uncollectible accounts, $5,000 d. Uncollectible-account expense (allowance method), $6,000 2. What are the ending balances of Accounts Receivable and Allowance for Uncollectible Accounts? 3. Show how Isaacson and Rubenstein will report accounts receivable on its balance sheet at December 31, 2021

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