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Fill in the blanks please On January 1, 2019, Hungryman, Inc., has the following balances for accounts receivable and Blowance for doubt accounts: Accounts Receivable

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On January 1, 2019, Hungryman, Inc., has the following balances for accounts receivable and Blowance for doubt accounts: Accounts Receivable $1,282,600 Allowance for Doubtful Accounts (a credit balance) 45,000 During 2019, Hungryman had $18,700,000 of credit sales, collected $17.945,000 of accounts receivable, and wrote off $60,000 of accounts receivable as uncollectible. At year end, Hungryman performs an aging of its accounts receivable balance and estimates that $52,000 will be uncollectible Required: 1. Calculate Hungryman's preadjustment balance in accounts receivable on December 31, 2019 2. Calculate Hungryman's preadjustment balance in allowance for doubtful accounts on December 31, 2019. Feedback Check My Work 1 & 2. Using T-accounts, start with the balance at the beginning of the year and make the necessary debits and/or credits for the transactions that occurred during the year 3. Prepare the necessary adjusting entry for 2019. Bad Debt Expense Allowance for Doubtful Accounts Record adjusting entry for bad debt expense estimate

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