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Johnson Company calculates its allowance for uncollectible accounts as 5% of its ending balance in gross accounts receivable. The allowance for uncollectible accounts had a

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Johnson Company calculates its allowance for uncollectible accounts as 5% of its ending balance in gross accounts receivable. The allowance for uncollectible accounts had a credit balance of $13,000 at the beginning of 2021. No previously written-off accounts receivable were reinstated during 2021. At 12/31/2021, gross accounts receivable totaled $216,800, and prior to recording the adjusting entry to recognize bad debts expense for 2021, the allowance for uncollectible accounts had a debit balance of 23,800. Required: 1. What was the balance in gross accounts receivable as of 12/31/2020? 2. What journal entry should Johnson record to recognize bad debt expense for 2021? 3. Assume Johnson made no other adjustment of the allowance for uncollectible accounts during 2021. Determine the amount of accounts receivable written off during 2021. 4. If Johnson instead used the direct write-off method, what would bad debt expense be for 2021? Required 1 Required 2 Required 3 Required 4 What was the balance in gross accounts receivable as of 12/31/2020? Balance in gross accounts receivable Required 2 > ES Eye vau ueou experise for 2021 3. Assume Johnson made no other adjustment of the allowance for uncollectible accou accounts receivable written off during 2021. 4. If Johnson instead used the direct write-off method, what would bad debt expense b skipped eBook Required 1 Required 2 Required 3 Required 4 Print What was the balance in gross acco&Us receivable as of 12/31/2020? References Balance in gross accounts receivable Required 2 > Record the entry to recognize bad debt expense for 2021. Note: Enter debits before credits. Debit General Journal Year Credit 2021 View general journal Clear entry Record entry 3. Assume Johnson made no other adjustment of the allowance for uncollectible accounts du accounts receivable written off during 2021. 4. If Johnson instead used the direct write-off method, what would bad debt expense be for 2 Required 1 Required 2 Required 3 Required 4 Assume Johnson made no other adjustment of the allowance for uncollectible accounts during 2021 accounts receivable written off during 2021. Amount of accounts receivable written off Required: 1. What was the balance in gross accounts receivable as of 12/31/2020? 2. What journal entry should Johnson record to recognize bad debt expense for 2021? 3. Assume Johnson made no other adjustment of the allowance for uncollectible accounts accounts receivable written off during 2021. 4. If Johnson instead used the direct write-off method, what would bad debt expense be fo Required 1 Required 2 Required 3 Required 4 If Johnson instead used the direct write-off method, what would bad debt expense be for 2021 Bad debt expense for 2021

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