Exercise 9-6 Or, December 31, 2017, Ung Co. estimated that 2% of its net sales o

Question

Exercise 9-6 Or, December 31, 2017, Ung Co. estimated that 2% of its net sales of $495,000 2018, Ling C will become uncellectible. The company recorded this amount as an adátion to Allowonce for Doubthul Accounts. On May 1 become O, determined that the Jeff Shoemaker account was uncollectible and wrote o $2,475. Prepare the journal entries on December 31, 2017 journal entries in the arder presented in the problem) , May 11, 2018, and June 12, 2018. (Credit are account titkes are automatically indented when amount is entered Do not indent manually, Recar Date Account Titles and Explanation Debit Credit (To reverse write-off (To record collection of write-off) LIST OF AcCOUNTS LIN TO TEXY 750 P o e search

Explanation / Answer

Journal entry :

Date accounts titles and explanation debit credit Dec 31,2017 Bad debt expense 9900 Allowance for doubtful accounts 9900 May 11,2018 Allowance for doubtful accounts 2475 Account receivable 2475 June 12,2018 Account receivable 2475   Allowance for doubtful accounts 2475 (To reverse write off) June 12,2018 Cash 2475 Account receivable 2475 (To record collection of write off)

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