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Exercise 8-8 On December 31, 2019, Marigold Corp. estime that 2% of its net accounts receivable of 5443,800 will bec collectible. The company recorded this

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Exercise 8-8 On December 31, 2019, Marigold Corp. estime that 2% of its net accounts receivable of 5443,800 will bec collectible. The company recorded this amount as an addition to Allowance for Doubtful Accounts. The allowance account ad a zero balance before adjustment on December 31, 2019. May 11, 2020, Marigold Corp. determined that the Jeff Shoemaker account was uncollectible and wrote of $2,219. On June 1 2020, Shoemaker paid the amount previously written off. Prepare the journal entries on December 31, 019, May 11, 2020, and June 12, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the der presented in the problem.) Date Account Titles and Explation Debit Credit To reverse write-off) To record collection of write-off)

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