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Need assistance on the last part of tge question what is the balance of allowance of doubtful accounts ar December 31, 2021? Current Attempt in
Need assistance on the last part of tge question "what is the balance of allowance of doubtful accounts ar December 31, 2021?"
Current Attempt in Progress Fleming Sign Company uses the allowance method in accounting for uncollectible accounts. Past experience indicates that 6% of accounts receivable will eventually be uncollectible. Selected account balances at December 31,2020 , and December 31 , 2021, appear below: Your answer iscorrect Record the following events in 2021. (Credit account titles are automotically indented when the amount is entered. Do not indent manually.) Aug 10 Determined that the account of Sue King for $800 is uncoliectible Sept 12: Determined that the account of Tom Young for $3,700 is uncollectibie. Record the following events in 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Aug. 10 Determined that the account of Sue King for $800 is uncollectible. Sept: 12 Determined that the account of Tom Young for $3,700 is uncollectible. Oct. 10 Received acheck for $500 as payment on account from Sue King. whose account had previously been written off as uncollectible. She indicated the remainder of her account would be paid in November. Nov. 15 Received a check for $300 from Sue King as payment on her account. Oct 10 Accounts Reccivable 800 Alowance for Doubtful Accounts (To reinstate Sue King account previously written off) Cash Accounts Receivable (To record collection on account) Nov, 15 : Cath Accounts Recelvable Prepare the adjusting journal entry to record the bad debt provision for the year ended December 31, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Step by Step Solution
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