Asiatic Electroplating analyzes its accounts receivable weekly. On November 17, 2023, Asiatic accepted a 5.5%, 90-day, $90,000 note receivable from RoadWorks in exchange for its past-due account. On December 1, Ellen Huskey’s $36,000 overdue account was converted to a four-month, 5.5% note receivable. On January 31, 2024, Asiatic’s year-end accrued interest was recorded on the notes. RoadWorks honoured its note on the maturity date but Ellen Huskey’s note was dishonoured. Huskey’s account was determined to be uncollectible and written off on July 15, 2024.

Required
Prepare Asiatic Electroplating’s entries for each of the following dates:
a. November 17, 2023
b. December 1, 2023
c. January 31, 2024
d. Maturity date of RoadWorks’ note
e. Maturity date of Huskey’s note
f. July 15, 2024

Analysis Component:
Assuming a $50,000 credit balance in the Allowance for Doubtful Accounts on July 14, 2024, calculate the balance after posting the entry in (f) above. Assuming no additional write-offs were made prior to year-end, comment on the adequacy of the Allowance for Doubtful Accounts.