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At the end of its annual accounting period, Midi Company estimated its bad debts as 0.72% of its $1,780,000 of credit sales made during the
At the end of its annual accounting period, Midi Company estimated its bad debts as 0.72% of its $1,780,000 of credit sales made during the year On December 31, Midi made an addition to its Allowance for Doubtful Accounts equal to that amount On the following February 1, management decided that the $2,600 account of Catherine Hicks was uncollectible and wrote it off as a bad debt. Four months later, on June 5, Hicks unexpectedly paid the amount previously written off Give the journal entries required to record these transactions View transaction Ilst
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