Here is information related to Wildhorse Company for 2022. Total credit sales Accounts receivable at December 31 Uncollectibles written off $1.419,000 845,000 34.900 (a) What amount of bad debt expense will Wildhorse Company report if it uses the direct write-off method of accounting for uncollectibles? $ (b) Assume that Wildhorse Company uses the percentage-of-receivables basis to record bad debt expense and concludes that 5% of accounts receivable will become uncollectible. What amount of bad debt expense will the company record if Allowance for Doubtful Accounts has a credit balance of $3,000? $ (c) Assume that Wildhorse Company uses the percentage-of-receivables basis to record bad debt expense and concludes that 5% of accounts receivable will become uncollectible. What amount of bad debt expense will the company record if Allowance for Doubtful Accounts has a debit balance of $900? At the beginning of the current period, Bonita Industries had balances in Accounts Receivable of $202,700 and in Allowance for Doubtful Accounts of $9.820 (credit). During the period, it had credit sales of $880,000 and collections of $706,410. It wrote off as uncollectible accounts receivable of $7.172. However, a $3,100 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $25,010 at the end of the period. (Omit cost of goods sold entries.) (a) (d) (a) (b) (c) (d) Prepare the entries to record sales and collections during the perlod, Prepare the entry to record the write-off of uncollectible accounts during the period. Prepare the entries to record the recovery of the uncollectible account during the period. Prepare the entry to record bad debt expense for the period. (a) (b) (c) (d) Prepare the entries to record sales and collections during the period. Prepare the entry to record the write-off of uncollectible accounts during the period. Prepare the entries to record the recovery of the uncollectible account during the period. Prepare the entry to record bad debt expense for the period. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation Debit Credit (To record sales) (To record collection) (b) (To record collection) (b) (c) (To reinstate account previously written off) (To record collection) (d)
