2e Help I nment On company recorded this amount as an addition to Allowance for

Question

2e Help I nment On company recorded this amount as an addition to Allowance for Accounts. On May written off. 11, 2018, Ling Co. determined that the Jeff Shoemaker account was uncollectible and wrote off $2,176. On June 12, 2018, Shoemaker paid the amount Prepare the journal entries on December 31, 2017, May 11, 2018, and June 12, 2018. (Credit account titles are automatically indented when amount is entered. Do not manually. Record journal entries in the order presented in the problem.) Account Titles and Explanation (To reverse write-off) 2

Explanation / Answer

Date Account titles and explanation Debit Credit Dec 31, 2017 Bad debt expense($435,200 x 3%) $13,056 Allowance for doubtful accounts $13,056 May 11, 2018 Allowance for doubtful accounts $2,176 Accounts receivable $2,176 June 12, 2018 Accounts receivable $2,176 Allowance for doubtful accounts $2,176 Cash $2,176 Accounts receivable $2,176

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