More Info 2024 Dec. 31 Estimated that bad debts expense for the year was 3% of credit sales of $410,000 and recorded that amount as expense. The company uses the allowance method. Made the closing entry for bad debts expense Dec. 31 2025 Jan. 17 Jun. 29 Aug. 6 Sold merchandise inventory to Marty White, $400, on account. Ignore Cost of Goods Sold Wrote off Marty White's account as uncollectible after repeated efforts to collect from him. Received $400 from Marty White, along with a letter apologizing for being so late. Reinstated White's account in full and recorded the cash receipt. Made a compound entry to write off the following accounts as uncollectible: Barry Krisp. $1,600. Maria Bryant, $1,100; and Richard Renik. $400. Estimated that bad debts expense for the year was 3% on credit sales of $490.000 and recorded the expense. Made the closing entry for bad debts expense. Dec. 31 Dec. 31 Dec 31 Print Done Clear All --- (Click the icon to view the transactions.) Read the requirements. Requirement 1. The T-accounts for Allowance for Bad Debts and Bad Debts Expense have been opened for you, assuming the account explanations), and post to the two T-accounts. (Record debits first, then credits. Exclude explanations from journal entries. Abbreviation Begin by recording the 2024 transactions in the general journal Dec 31 Estimated that bad debts expense for the year was 3% of credit sales of $410,000 and recorded that amount as expense The Date Accounts and Explanation Debit Credit 2024 Dec 31 12.300 Bad Debts Expense Allowance for Bad Debts 12 300 (Ads) Dec 31: Made the closing entry for bad debts expense Choose from any list or enter any number in the input fields and then click Check Answer parts Clear All have been opened for you, assuming the accounts begin with a zero balance. Record the transactions in the general journal (o explanations from journal entries. Abbreviations used Adj. = Adjusting entry. Clos. - Closing entry, W/O Write-off.) 000 and recorded that amount as expense. The company uses the allowance method. edit 12 300 i (Click the icon to view the transactions.) Read the requirements, 12,300 Dec. 31 (Adj) Bad Debts Expense Allowance for Bad Debts 12,300 Dec 31: Made the closing entry for bad debts expense. Credit Debit Date Accounts and Explanation 2024 Dec. 31 (Clos) Choose from any list or enter any number in the input fields and then click Check Answer Clear A 9 parts remaining UL Record Requirements y Clos te metha 1. The T-accounts for Allowance for Bad Debts and Bad Debts Expense have been opened for you, assuming the accounts begin with a zero balance. Record the transactions in the general journal (omit explanations), and post to the two T-accounts. 2. Assume the December 31, 2025, balance of Accounts Receivable is $136,000. Show how net accounts receivable would be reported on the balance sheet at that date. Print Done click Check Answen