.ill AT&T; 14:44 * 81% uncc.instructure.com Kimmel, Financial Accounting, 8 Exer

Question

.ill AT&T; 14:44 * 81% uncc.instructure.com Kimmel, Financial Accounting, 8 Exercise 8-6 On December 31, 2016, 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, 2017, Blossom Company determined that B. Jared's On June 12, 2017, Jared paid the amount previously written off. Calendar account was uncollectible and wrote off $1,260. Prepare the journal entries on December 31, 2016, May 11, 2017, and une 12, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually Help Te reinstate account previously wnitten of Question Attempts: o of s usdE FOR LATER SUBMET ANSWER

Explanation / Answer

31-12-2016 Bad Debt Expense Dr 10031 Allowance for Doubtful Accounts Cr 10031 [(78000*11%)+1481] 11-05-2017 Allowance for Doubtful Accounts Dr 1260 Accounts Receivable Cr 1260 12-06-2017 Accounts Receivable Dr 1260 Allowance for Doubtful Accounts Cr 1260 12-06-2017 Cash Dr 1260 Accounts Receivable Cr 1260

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