During Burns Company's first year of operations, credit sales totaled $166,000 and collections on credit sales totaled $118,000. Burns estimates that bad debt losses will be 2.0% of credit sales. By year-end, Burns had written off $430 of specific accounts as uncollectible.

Required:

1. Prepare all appropriate journal entries relative to uncollectible accounts and bad debt expense.
2. Show the year-end balance sheet presentation for accounts receivable.

Journal entry worksheet Record the entry to write-off specific accounts. Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Show the year-end balance sheet presentation for accounts receivable