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4) Sanders Company had an allowance for doubtful accounts of $80 on January 1. During the year, Sanders wrote off $85 of accounts receivable and
4) Sanders Company had an allowance for doubtful accounts of $80 on January 1. During the year, Sanders wrote off $85 of accounts receivable and earned revenues of $2,200. At December 31, Sanders' accounts receivable were $700. Sanders estimates that 10% of accounts receivable will eventually be uncollectible. a. Give all of Sanders' journal entry to record all write-offs for the year b. Give Sanders' jounal entry to record bad debt expense for the year (December 31 adjusting entry) C. How much of the $700 of receivables does Sanders expect not to collect? d. What is Sanders' net accounts receivable at December 31
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