Exercise 8-5

At December 31, 2016, Finzelberg Company had a credit balance of $15,500 in Allowance for Doubtful Accounts. During 2017, Finzelberg wrote off accounts totaling $11,500. One of those accounts ($1,700) was later collected. At December 31, 2017, an aging schedule indicated that the balance in Allowance for Doubtful Accounts should be $22,800.

Prepare journal entries to record the 2017 transactions of Finzelberg Company.