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Accounts receivable transactions are provided below for J Pharoah Co. Dec. 31, 2020 Mar. 5, 2021 The company estimated that 4% of its accounts receivable
Accounts receivable transactions are provided below for J Pharoah Co. Dec. 31, 2020 Mar. 5, 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 $661,000 and $2,700 (debit), respectively. The company determined that R. Mirza's $3,500 account and D. Wight's $6,900 account were uncollectible. The company's accounts receivable were $691,400 before the accounts were written off. Wight paid the amount that had been written off on March 5. The company's accounts receivable were $650.600 prior to recording the cash receipt for Wight. June 6, 2021 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 for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record estimate of uncollectible accounts.) (To record write off of accounts receivable.)
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