For a business that uses the allowance method of accounting for uncollectible receivables Required 1 Journalize the entries to record the following a Record the adjusting entry at December 31, the end of the first fiscal year, to record the bad debt expense The accounts receivable account has a balance of $800,000, and the contra asset account before adjustment has a debit balance of $600 Analysis of the receivables indicates uncollectible receivables of $18,000 b In March of the next year, the $350 owed by Fronk Co on account is written off as uncollectible c In November of the next year, $200 of the Fronk Co account is reinstated and payment of that amount is received d In December of the next year, $400 is received on the $600 owed by Dodger Co and the remainder is written off as uncollectible 2 Redo the entries in steps (2), (3), and (4) assuming the company uses the direct write off method Refer to the Chart of Accounts for exact wording of account titles Journalize the entries to record the following (1) Record the adjusting entry at December 31, the end of the first fiscal year, to record the bad debt expense The accounts receivable account has a balance of $800,000, and the contra asset account before adjustment has a debit balance of $600 Analysis of the receivables indicates uncollectible receivables of $18,000 (2) In March of the next year, the $350 owed by Fronk Co on account is written off as uncollectible (3) In November of the next year, $200 of the Fronk Co account is reinstated and payment of that amount is received (4) In December of the next year, $400 is received on the $600 owed by Dodger Co and the remainder is written off as uncollectible Refer to the Chart of Accounts for exact wording of account titles PAGE 1 JOURNAL DATE DESCRIPTION POST REF DEBIT CREDIT 1 2 3 4 5 6 7 8 9 10 11 Redo the entries in steps (2), (3), and (4) assuming the company uses the direct write off method Refer to the Chart of Accounts for exact wording of account titles PAGE 1 JOURNAL DATE DESCRIPTION POST REF DEBIT CREDIT 1 2 3 4 5 6 7 8 9

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For a business that uses the allowance method of accounting for uncollectible receivables: Required 1. Journalize the entries to record the following: a. Record the

For a business that uses the allowance method of accounting for uncollectible receivables:

Required

1. Journalize the entries to record the following:

a. Record the adjusting entry at December 31, the end of the first fiscal year, to record the bad debt expense. The accounts receivable account has a balance of $800,000, and the contra asset account before adjustment has a debit balance of $600. Analysis of the receivables indicates uncollectible receivables of $18,000.*

b. In March of the next year, the $350 owed by Fronk Co. on account is written off as uncollectible.*

c. In November of the next year, $200 of the Fronk Co. account is reinstated and payment of that amount is received.*

d. In December of the next year, $400 is received on the $600 owed by Dodger Co. and the remainder is written off as uncollectible.*

2. Redo the entries in steps (2), (3), and (4) assuming the company uses the direct write-off method.*

*Refer to the Chart of Accounts for exact wording of account titles.

Journalize the entries to record the following:
(1)	Record the adjusting entry at December 31, the end of the first fiscal year, to record the bad debt expense. The accounts receivable account has a balance of $800,000, and the contra asset account before adjustment has a debit balance of $600. Analysis of the receivables indicates uncollectible receivables of $18,000.
(2)	In March of the next year, the $350 owed by Fronk Co. on account is written off as uncollectible.
(3)	In November of the next year, $200 of the Fronk Co. account is reinstated and payment of that amount is received.
(4)	In December of the next year, $400 is received on the $600 owed by Dodger Co. and the remainder is written off as uncollectible.
	Refer to the Chart of Accounts for exact wording of account titles.

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Redo the entries in steps (2), (3), and (4) assuming the company uses the direct write-off method. Refer to the Chart of Accounts for exact wording of account titles.

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