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At the end of its annual accounting period, Midi Company estimated its bad debts as 0 . 7 5 % of its $ 1 ,
At the end of its annual accounting period, Midi Company estimated its bad debts as of its $ of credit sales mace during the year. On December Midi made an addition to its Allowance for Doubtful Accounts equal to that amount. On the following months later, on June Hicks unexpectedly paid the amount previously written off
Give the journal entries required to record these transactions. If no entry is required for a transactionevent select No journal entry required" in the first account field.
Journal entry worksheet
Record the entry for estimated bad debts.
Note: Enter debits before credits
tableDateGeneral Journal,Debit,CredittableDecember
Journal entry worksheet
Record the entry to written off amount due from Catherine Hicks.
Note: Enter debits before credits.
tableDateGeneral Journal,Debit,CreditFebruary
Journal entry worksheet
Record the entry to reinstate Catherine Hicks account previously written off.
Note: Enter debits before credits.
tableDateGeneral Journal,Debit,CreditJune
Journal entry worksheet
Record the receipt from Catherine Hicks.
Note: Enter debits before credits.
tableDateGeneral Journal,Debit,CreditJune
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