Johnson Company uses the allowance method to account for uncollectible receivabl

Question

Johnson Company uses the allowance method to account for uncollectible receivables. On September 2, Johnson wrote off a $14,000 account receivable from customer J. Mraz. On December 12, Johnson unexpectedly received full payment from Mraz on the previously writen off account Johnson records an adjusting en for bad debts expense of $800 on December 31 9. 10. 11. Journalize Johnson's write-off of the uncollectible receivable Journalize Johnson's collection of the previously written off receivable Journalize Johnson's adjustment for bad debts expense 9. Journalize Johnson's write-off of the uncollectible receivable. (Record debits first, then, credits Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Sept 2 10. No iniimal 7? Inhnsnn's rollection of the nrminish written nff recei ahle (Remrd the transact on in twn inimal entries )

Explanation / Answer

Journal entry :

Date accounts & explanation debit credit Sep 2 Allowance for doubtful accounts 14000      Account receivable 14000 (To record amount write off) Dec 12 Account receivable 14000      Allowance for doubtful accounts 14000 (To record amount reinstate) Dec 12 Cash 14000      Account receivable 14000 (To record amount received) Dec 31 Bad debt expense 800     Allowance for doubtful accounts 800 (To record adjusting entry)

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