Colorado Rocky Cookie Company offers credit terms to its customers. At the end of $2024,$ accounts recelvable totaled $$640,000.$ The allowance method is used to account for uncollectible accounts. The allowance for uncollectible accounts had a credit balance of $$35,000$ at the beginning of $2024$ and $$22,500$ in receivables were written off during the year as uncollectible. Also, $$1,500$ in cash was received in December from a customer whose account previously had been written off. The company estimates bad debts by applying a percentage of $10\%$ to accounts receivable at the end of the year.

Required:

Prepare journal entries to record the write$-$off of receivables, the collection of $$1,500$ for previously written off recelvables, and the year$-$end adjusting entry for bad debt expense.

How would accounts receivable be shown in the $2024$ year$-$end balance sheet?

Complete this question by entering your answers in the tabs below.

Required $1$

Required $2$

Prepare journal entries to record the write$-$off of receivables, the collection of $$1,500$ for previously written off receivables, and the yearend adjusting entry for bad debt expense.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Vlew transaction list

$\backslash$table$[[$No$,$Event,General Journal,Debit,Credit$],[1,1,$Allowance for uncollectible accounts,$22,500,],[,,$Accounts receivable,,$2,500],[2,2,$Accounts receivable,$1,500,],[,,$Allowance for uncollectible accounts,$1,500,],[3,3,$Cash,,$],[,,$Accounts receivable,$1,500,],[,,$Bad debt expense,,$1,500],[,,$Allowance for uncollectible accounts,,$]]$

Required $2$