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On December 31, 2020, when its accounts receivable were $348,000 and its Allowance for Doubtful Accounts had an unadjusted debit balance of $2,300, Oak Corp.

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On December 31, 2020, when its accounts receivable were $348,000 and its Allowance for Doubtful Accounts had an unadjusted debit balance of $2,300, Oak Corp. estimated that $19.500 of its accounts receivable account would become uncollectible, and it recorded the bad debts adjusting entry. On May 11, 2021, Oak determined that Fei Ya Cheng's account was uncollectible and wrote off $2,200. On November 12, 2021, Cheng paid the amount previously written off. (a) Your answer is partially correct. Prepare the required journal entries to record each of the above transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) 2020 Date Debit Credit Account Titles and Explanation Bad Debts Expense Dec. 31 Allowance for Doubtful Accounts Prepare the required journal entries to record each of the above transactions. (List all debit entries before credit entries Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) 2020 Date Debit Credit Account Titles and Explanation Bad Debts Expense Dec. 31 24000 Allowance for Doubtful Accounts 24000 2021 Date Debit Credit Account Titles and Explanation Allowance for Doubtful Accounts May 11 Accounts Receivable Nov. 12 Accounts Receivable Allowance for Doubtful Accounts (To reinstate account previously written off) Cash Accounts Receivable (To record amount collected)

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