Journal Entries for Credit Losses;;;

At the beginning of the year Portal Company had the following accounts on its book

Account Receivable------------$140,000 debit

Allowance for doubtful account--$8,000 credit

sale on acct during the year -----$1,173,000

collection--------------------------$1,175,000

The following transactions;;;

02/17 wrote off R Lowell acct----$4000

05/28 wrote off G Boyd acct----$3400

10/13 Received $600 from G Boyd this amount

is not included in the $1,175,000 collection

12/15 wrote off K Marshall account---$1,600

12/31 In an adjusting entry recorded the allowance for doubtful account

at 0.9% of credit sales for the year

Show how Account Receivable and the Allowance for Doubtful Account would appear on

December 31 Balance Sheet