Entries for Bad Debt Expense Under the Direct Write-Off and Allowance Method

The following selected transactions were taken from the records of Silhouette Company for the year ending December 31, 2014:

Mar. 4	Wrote off account of Myron Rimando, $7,260.
May 19	Received $5,150 as partial payment on the $13,000 account of Shirley Mason. Wrote off the remaining balance as uncollectible.
Aug. 7	Received the $7,260 from Myron Rimando, which had been written off on March 4. Reinstated the account and recorded the cash receipt.
Dec. 31	Wrote off the following accounts as uncollectible (record as one journal entry):

Brandon Peele	$2,110
Clyde Stringer	1,310
Ned Berry	5,010
Mary Adams	2,900
Gina Bowers	800

Dec. 31 If necessary, record the year-end adjusting entry for the uncollectible accounts. The company prepared the following aging schedule for its accounts receivable:

Aging Class (Number of Days Past Due)									Receivables Balance on December 31				Estimated Percent of Uncollectible Accounts
								0-30 days	$348,000				1	%
								31-60 days	131,000				9
								61-90 days	41,000				30
								91-120 days	15,000				55
								More than 120 days	21,000				80
								Total receivables	$556,000

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