BLG is a company with a December 31 year end. At the beginning of 2017, the company had a balance in its accounts receivable account of $55,000 (debit) and a balance in the allowance for doubtful accounts of $825 (credit) determined using the percentage of accounts receivable method. Required For each of the following events that occurred in 2017, record the journal entry or entries that the company should make: a. BLG determined that an account receivable from Acadia Ltd. of $12,500 was now uncollectible and should be written off. b. The company sold inventory to one of its customers, Green Ltd. for $20,000 on December 31, 2016 in exchange for a note bearing interest at 6% due on December 31, 2017. This is the first time the company received a note from a customer. Unfortunately, when the note fell due, Green Ltd. did not send a payment to BLG. However, BLG still feels that the amount can be collected from Green. Record the journal entry that BLG would make on December 31, 2017. TTT 11LL c. The company was informed that $4,000 of the receivable from Acadia Ltd. was written off would be recovered next year. d. During the year BLG Ltd. had credit sales of $38,000 and cash collections of $42,000. e. No other entries, other the ones discussed in a through d) were recorded during the c. The company was informed that $4,000 of the receivable from Acadia Ltd. written off would be recovered next year. d. During the year BLG Ltd. had credit sales of $38,000 and cash collections of $42,000. e. No other entries, other the ones discussed in a) through d) were recorded during the year. BLG Ltd. estimates that their bad debt expense estimate will remain at 1.5% of their outstanding accounts receivable. What is the journal entry BLG Ltd. will record on December 31, 2017? - Paragraph v BIUS View hint for Question 36