During Burns Company's first year of operations, credit sales totaled $$154,000$ and collections on credit sales totaled $$112,000.$ Burns estimates that bad debt losses will be $2\mathrm{.}0\%$ of credit sales. By year$-$end, Burns had written off $$370$ 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 expel Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in tl

Journal entry worksheet

$1$

$2$

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

Note: Enter debits before credits.

$\backslash$table$[[$Transaction$,$General Journal,Debit,Credit$],[1,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$