Question

PRIN. OF ACETTAIT (ACET 2101 CALCULATOR Question 9 The Concord Corporation uses the allowance method in accounting for uncollectible accounts Past experience indicates that Selected account balances at December 31, 2021, and December 31, 2022, appear below of accounts receivable will eventually be collectie Net Credit Sales Accounts Receivable Allowance for Doubtful Accounts 12/31/2021 $139,000 86,000 4,500 12/31/2022 $542,500 170,000 Record the following events in 2022. (Ce onder presented in the problem countries are automatically indented when the antise m inent l y condom Aug. 10 Sept. 12 Oct. 10 Determined that the account of Kurt West for $1,000 is uncollectible. Determined that the account of Will Lynch for $2,600 is uncollectible, Received a check for $480 as payment on account from Kurt West, whose account had previously been written off as uncollectible Date Account Titles and Explanation Debit Credit

Answer 1

Date	Accounts Titles & Explanation	Debit	Credit
Aug 10	Allowance for Doubtful Accounts	1,000
	Accounts Receivable		1,000
	(To record uncollectible on account of Kurt west)
Sept 12	Allowance for Doubtful Accounts	2,600
	Accounts Receivable		2,600
	(To record uncollectible on account of Jill Lynch)
Oct 10	Accounts Receivable	480
	Allowance for Doubtful Accounts		480
	(To record reversal of uncollectible on account of Kurt west)
	Cash	480
	Accounts Receivable		480
	(To record check received from account of Kurt west)