p9-1a The Septemeber 30 2020 balance sheet of Kroenke products reported the following. Accounts Receivable $310,000 Allowance for Doubtful Accounts (credit balance) 10,000 During the last quarter of 2020, Korenke Products completed the following selected transactions Dec 30 wrote off the following accounts receivable as uncollectable:Barry white, $2,500, Carol Media $2,200 and Doug Zabellos, $1,100 Dec 31 recorded bad debt expenses (rounded up to the nearest dollar)based on the aging of accounts receivable, as follows .

6/4/2/2/12/2@0:12.0 G Age of Accounts Receivable 1-30 31-60 61-90 Over 90 2 Days Days Days Days Total 3 Accounts Receivable $179,000 $95,000 $37,500 $17,000 $328,500 4 Estimated percent uncollectible 0.1% 0.3% 5.0% 40.0% 5 Required 1. Record the transactions in the general journal. 2. Open the Allowance for Doubtful Accounts three-column ledger account and post entries affecting that account. Keep a running balance. 3. Most companies report two-year comparative financial statements. If Kroenke Products Accounts Receivable balance was $320,000 and the Allowance for Doubtful Accounts stood at $12,000 at December 31, 2019, show how the company will report its Accounts Receivable in a comparative balance sheet for 2020 and 2019. 4. Suppose, on December 31, the bad debt expense was based on an estimate of 4 percent of the accounts receivable balance rather than on the aging of accounts receivable. Record the December 31, 2020, entry for bad debt expense in the general journal. 12:13 PM W oj X 19 ) ENG 2020-06-07 Delete