omework G Saved Help Save & Ex Chec Exercise 7-9 Writing off receivables LO P2 Daley Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of receivables analysis. Days Past Due Total 1 to 3e 31 to 60 61 to 9e over 9e Accounts receivable $570,e00 $396,000 $9e,e0 $36,e00 $18,000 $30,000 Percent 1% 2% 5% 7% 18% uncollectible a. On February 1 of the next period, the company determined that $6,800 in customer accounts was uncollectible; specifically, $900 for Oakley Co. and $5,900 for Brookes Co. Prepare the journal entry to write off those two accounts. b. On June 5 of that next period, the company unexpectedly received a $900 payment on a customer account, Oakley Company, that had previously been written off in part a. Prepare the entries necessary to reinstate the account and to record the cash received. Vlew transaction list Journal entry worksheet The company determined that $6,800 in customer accounts is uncollectible; specifically, $900 for Oakley Co. and $5,900 for Brookes Co. Prepare the Journal entry to write off those accounts. Note: Enter debits before credits. lomework Saved Help Save & Exi Chec Exercise 7-10 Estimating bad debts LO P3 At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales Credit sales $900,00e , Its year-end unadjusted trial balance includes the following items $125,e00 debit Accounts receivable Allowance for doubtful accounts 5,e80 debit Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be (a) 3% of credit sales, (b) 1% of total sales and (c) 6% of year-end accounts receivable. View transaction list Journal entry worksheet 3 Record Bad Debts Expense assuming uncollectibles are estimated to be 3% of credit sales