Answer.
Journal entries
Date. Particular. Debit. Credit
31-Dec- 2021 Bad debts expenses. 10963
To
Allowance for doubt ful account. 10963
{ 105900*9% +1432}
11-May- 2022. Allowance for doubt ful account. 1091
To
Account receivable. 1091
12-June-2022. Account receivable. 1091
To
Allowance for doubt ful account. 1091
( To restate account previous ly written off)
12 -June-2022. Cash account. 1091
To
Account receivable. 1091
Thank you
On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1,432,...
On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1,451, Blossom Company estimates that 11% of its accounts receivable balance of $78,000 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. On May 11, 2022, Blossom Company determined that B. Jared's account was uncollectible and wrote off $1,260. On June 12, 2022, Jared paid the amount previously written off. Prepare the journal entries on December 31, 2021, May 11, 2022,...
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On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1,451, Blossom Company estimates that 11% of its accounts receivable balance of $78,000 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. On May 11, 2022, Blossom Company determined that B. Jared's account was uncollectible and wrote off $1,260. On June 12, 2022, Jared paid the amount previously written off. Prepare the journal entries on December 31, 2021, May 11, 2022, and...
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