Upham Companys June 30, 2016, balance sheet included the following information:

Upham Company

Partial Balance Sheet

June 30, 2016

1	Accounts Receivable	$248,000.00
2	Less: Allowance for Doubtful Accounts	(14,400.00)	$233,600.00
3	Notes Receivable		21,400.00
4	Total Receivables		$255,000.00
5	* The company has a recourse liability of $2,450 for notes receivable sold with recourse.

During the companys fiscal year ending June 30, 2017, the following transactions occurred:

1.	Sales on credit	$870,400
2.	Collections of accounts receivable	842,800
3.	Accounts receivable written off as uncollectible	13,500
4.	Customer notes received in payment of accounts receivable	71,500
5.	Notes receivable collected	26,500
6.	Notes receivable, previously sold with recourse, were paid at maturity. The associated recourse liability for this note is $650.	35,000
7.	Notes receivable were defaulted	2,025
8.	Collections on accounts previously written off	400
9.	Bad debts were estimated to be 1.5% of credit sales

	Required:
1.	Prepare the journal entries necessary for Upham to record the preceding transactions.
2.	Prepare an analysis and schedule that shows the amounts of the accounts receivable, allowance for doubtful accounts, notes receivable, and notes receivable dishonored accounts that will be disclosed on Uphams June 30, 2017, balance sheet.

CHART OF ACCOUNTS
Upham Company
General Ledger
ASSETS 111 Cash 121 Accounts Receivable 122 Allowance for Doubtful Accounts 125 Notes Receivable 126 Notes Receivable Dishonored 141 Inventory 152 Prepaid Insurance 181 Equipment 198 Accumulated Depreciation LIABILITIES 211 Accounts Payable 215 Recourse Liability 231 Salaries Payable 250 Unearned Revenue 261 Income Taxes Payable EQUITY 311 Common Stock 331 Retained Earnings	REVENUE 411 Sales Revenue EXPENSES 500 Cost of Goods Sold 511 Insurance Expense 512 Utilities Expense 521 Salaries Expense 532 Bad Debt Expense 540 Interest Expense 541 Depreciation Expense 559 Miscellaneous Expenses 601 Loss from Sale of Receivables 910 Income Tax Expense

Prepare the journal entries necessary for Upham to record the transactions for fiscal year ended June 30, 2017. Additional Information

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GENERAL JOURNAL

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Complete the schedule that shows the amounts of the accounts receivable, allowance for doubtful accounts, notes receivable, and notes receivable dishonored accounts that will be disclosed on Uphams June 30, 2017, balance sheet. Additional Information

Upham Company

Partial Balance Sheet

June 30, 2017

1	Accounts Receivable
2	Less: Allowance for Doubtful Accounts
3	Notes Receivable
4	Notes Receivable Dishonored
5	Total Receivables