hello can someone please help me fill this out ? Daley Company estimates uncolle

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hello can someone please help me fill this out ?

Daley Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of receivables analysis. Days Past Due Total 0 1 to 30 31 to 60 61 to 90 Over 90 Accounts receivable $570,000 $396,000$90,000 $36,000 $18,000 $30,000 Percent uncollectible 1% 2% 5% 7% 10% a. On February 1 of the next period, the company determined that $6,800 in customer accounts was uncollectible; specifically, $900 for Oakley Co. and $5,900 for Brookes Co. Prepare the journal entry to write off those two accounts. b. On June 5 of that next period, the company unexpectedly received a $900 payment on a customer account, Oakley Company, that had previously been written off in part a. Prepare the entries necessary to reinstate the account and to record the cash received.

Explanation / Answer

Date General Journal Debit Credit 1-Feb Allowance for doubtful accounts 6,800 Accounts receivable—Oakley Co. 900 Accounts receivable—Brookes Co. 5,900 5-Jun Accounts receivable—Oakley Co. 900 Allowance for doubtful accounts 900 5-Jun Cash 900 Accounts receivable—Oakley Co. 900

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