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Accounts receivable transactions are provided below for J Blossom Co. Dec. 31, 2020 The company estimated that 3% of its accounts receivable would become uncollectible.

Accounts receivable transactions are provided below for J Blossom Co.

Dec. 31, 2020 The company estimated that 3% of its accounts receivable would become uncollectible. The balances in the Accounts Receivable account and Allowance for Doubtful Accounts were $600,000 and $2,000 (debit), respectively.
Mar. 5, 2021 The company determined that R. Mirzas $3,000 account and D. Wights $6,000 account were uncollectible. The companys accounts receivable were $630,000 before the accounts were written off.
June 6, 2021 Wight paid the amount that had been written off on March 5. The companys accounts receivable were $591,000 prior to recording the cash receipt for Wight.

Prepare the journal entries on December 31, 2020, March 5, 2021, and June 6, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)

Date

Account Titles and Explanation

Debit

Credit

Dec. 31, 2020Mar. 5, 2021June 6, 2021

Accounts Receivable - MirzaAllowance for Doubtful AccountsNo EntryBad Debts ExpenseAccounts Receivable - WightCash

CashAccounts Receivable - WightAllowance for Doubtful AccountsBad Debts ExpenseAccounts Receivable - MirzaNo Entry

(To record estimate of uncollectible accounts.)

Dec. 31, 2020Mar. 5, 2021June 6, 2021

No EntryAllowance for Doubtful AccountsAccounts Receivable - MirzaCashBad Debts ExpenseAccounts Receivable - Wight

Allowance for Doubtful AccountsNo EntryAccounts Receivable - MirzaCashAccounts Receivable - WightBad Debts Expense

(To record write off of accounts receivable.)

Dec. 31, 2020Mar. 5, 2021June 6, 2021

Bad Debts ExpenseAllowance for Doubtful AccountsAccounts Receivable - MirzaNo EntryCashAccounts Receivable - Wight

Allowance for Doubtful AccountsCashBad Debts ExpenseAccounts Receivable - WightNo EntryAccounts Receivable - Mirza

(To record write off of accounts receivable.)

Dec. 31, 2020Mar. 5, 2021June 6, 2021

Allowance for Doubtful AccountsBad Debts ExpenseNo EntryAccounts Receivable - MirzaCashAccounts Receivable - Wight

Accounts Receivable - MirzaCashNo EntryBad Debts ExpenseAccounts Receivable - WightAllowance for Doubtful Accounts

(To reverse write off.)

Dec. 31, 2020Mar. 5, 2021June 6, 2021

Allowance for Doubtful AccountsBad Debts ExpenseAccounts Receivable - MirzaCashNo EntryAccounts Receivable - Wight

CashBad Debts ExpenseAccounts Receivable - WightAccounts Receivable - MirzaAllowance for Doubtful AccountsNo Entry

(Collection of account that was previously written off.)

eTextbook and Media

Assistance Used

List of Accounts

Question Part Score

--/2.66

Post the journal entries to Allowance for Doubtful Accounts and calculate the new balance after each entry.

Allowance for Doubtful Accounts

Date

Explanation

Ref.

Debit

Credit

Balance

Dec. 31, 2020

Balance unadjusted Debit

Dec. 31, 2020

AJE

Mar. 5, 2021

Write off Mirza

Mar. 5, 2021

Write off Wight

June 6, 2021

Reverse write off

eTextbook and Media

Assistance Used

List of Accounts

Question Part Score

--/2.67

Calculate the carrying amount of the accounts receivable both before and after recording the cash receipt from Wight on June 6, 2021.

Carrying amount before recovery $
Carrying amount after recovery $

eTextbook and Media

List of Accounts

Question Part Score

--/2.67

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