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Accounts receivable transactions are provided below for J Oriole Co. Dec. 31, 2020 Mar. 5, 2021 June 6, 2021 The company estimated that 4% of

Accounts receivable transactions are provided below for J Oriole Co. Dec. 31, 2020 Mar. 5, 2021 June 6, 2021 The company estimated that 4% of its accounts receivable would become uncollectible. The balances in the Accounts Receivable account and Allowance for Doubtful Accounts were $660,000 and $2,100 (debit), respectively. The company determined that R. Mirza's $3,100 account and D. Wight's $7,000 account were uncollectible. The company's accounts receivable were $698,900 before the accounts were written off. Wight paid the amount that had been written off on March 5. The company's accounts receivable were $649,900 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 O for the amounts. Record journal entries in the order presented in the problem.) Date v Account Titles and Explanation Debit Credit Post the journal entries to Allowance for Doubtful Accounts and calculate the new balance after each entry. Allowance for Doubtful Accounts Debit Credit Date Explanation Ref. Dec. 31, Balance unadjusted Debit 2020 Dec. 31, AJE 2020 Mar. 5. Write off Mirza 2021 Mar. 5, Write off Wight 2021 June 6, Reverse write off 2021 Balance 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 $image text in transcribedimage text in transcribedimage text in transcribed

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