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On December 31, 2021, the Allowance for Doubtful Accounts has an unadjusted debit balance of $1,050. Clinton Corporation estimates that 9% of its total
On December 31, 2021, the Allowance for Doubtful Accounts has an unadjusted debit balance of $1,050. Clinton Corporation estimates that 9% of its total accounts receivable balance of $89,500 will become uncollectible and records the necessary adjustment to the Allowance for Doubtful Accounts. On May 11, 2022, Clinton Corporation determined a J. Reno's account was uncollectible and wrote off $1,450. On June 12, 2022, Reno paid the amount previously written off. Prepare the journal entries on December 31, 2021, May 11, 2022, and June 12, 2022. (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 O for the amounts.) Date Account Titles and Explanation (To reverse write-off of account receivable) (To record recovery of uncollectible amount) Debit Credit
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