Journal Entries for Credit Losses:At the beginning of the year, Whitney Company had the following accounts on its books:

Accounts Receivable $154,000 Debit Allowance for Doubtful Accounts $1900 Credit During the year. credit sales were: $1.133,000 and collections on account were: $1,120,000 The following transactions, among others, occurred during the year: Feb. 1 7 Wrote off R. Lowell's account, $3, 300 May23 Wrote off G. Boyd's account, $2.100 Oct.13 Received 5500 from G. Boyd, who is in bankruptcy proceedings, in nal settlement of the account written off on May 28. This amount is not included in the $1,120,000 collections. Dec 1 5 Wrote off K. Marshall's account, $1.400 Dec31 In an adjusting entry, recorded the allowance for doubtful accounts at 0.5% of credit sales for the yea r. General Journal Date Description Debit Credit Dec.31 $ $ To record sales revenue for the year. Dec.31 To record collections on account for the year. Feb. 17 To write off R. Lowell's account. May.28 To write off G. Boyd's account. Oct. 13 $ To reinstate G. Boyd's account for partial recovery. Oct. 13 To record collection from G. Boyd. Dec. 15 To write-off K. Marshall's account. Dec.31 To record allowance for doubtful accounts.