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Allowance for A/R's 3 0.5 points Provide the journal entry for credit sales The following is an aging schedule of Jill Co's accounts receivable at
Allowance for A/R's 3 0.5 points Provide the journal entry for credit sales The following is an aging schedule of Jill Co's accounts receivable at 12/31/2016 (all dollar values in thousands): Outstanding Percent of Ending Grou AR Estimated collectible 0-30 60% 31-60 3596 10% Over 60 5% 3996 Jill uses the aging schedule above to estimate bad debts. During 2016, Jill wrote off $70 in receivables and recovered $5 that had been written off in prior years. During 2016 credit sales totaled $12,000 and cash collections from customers were $12,500 (excluding the previously written off receivable). The 2015 balance sheet disclosed the following: 0.5 points Provide the journal entry for cash collections Current Assets: Receivables, net of allowance for bad debt of $90 $900 5 1 point Provide the journal entry for the write-off of uncollectible accounts 6 1 point Provide the journal entry(ies) for the recovered receivable 7 2 points Provide the journal entry for bad debt expense Activate Windows
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