During Burns Company's first year of operations, credit sales totaled $$180,000$ and collections on credit sales totaled $$125,000.$ Burns

estimates that bad debt losses will be $1\mathrm{.}0\%$ of credit sales. By year$-$end, Burns had written off $$500$ of specific accounts as

uncollectible.

Required:

Prepare all appropriate journal entries relative to uncollectible accounts and bad debt expense.

Show the year$-$end balance sheet presentation for accounts receivable.

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

Prepare all appropriate journal entries relative to uncollectible accounts and bad debt expense.

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

Journal entry

worksheet

$1$

$2$

Record the entry to write$-$off specific accounts.

Note: Enter debits before credits.