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CALCULATOR PRINTER VERSION BACK NEXT Exercise 3-08 On December 31, 2020, Oriole Company estimated that 3% of its net accounts receivable of $444,600 will become

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CALCULATOR PRINTER VERSION BACK NEXT Exercise 3-08 On December 31, 2020, Oriole Company estimated that 3% of its net accounts receivable of $444,600 will become uncollectible. The company recorded this amount as an addition to Allowance for Doubtful Accounts. The allowance account had a zero balance before adiustment on December 31, 2020. On May 11, 2021, Oriole Company determined that the Jeff Shoemaker account was uncollectible and wrote off $2.223. On June 12, 2021, Shoemaker paid the amount previously written off. Prepare the journal entries on December 31, 2020, May 11, 2021, and June 12. 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Dec 31, 2020 Bad Debt Expense Allowance for Doubtful Accounts May 11, 2021 Allowance for Doubtful Accounts Accounts Receivable June 12, 2020 Accounts Receivable Allowance for Doubtful Accounts (To reverse write-off) Cash June 12, 2021 Accounts Receivable (To record collection of wate-off) Click if you would like to show Work for this question: Open Show Work

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