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Please answer question in the format pictured below. Only use the following selections : Accounts receivable Bob Shatner, Accounts receivable Gene Savage, Accounts receivable Jill
Please answer question in the format pictured below.
Only use the following selections : Accounts receivable Bob Shatner, Accounts receivable Gene Savage, Accounts receivable Jill Nelson, Accounts receivable Paul Jones, Allowance for doubtful accounts, bad debts expense and cash.
Lee Co. has requested that you prepare journal entries from the following (this company uses the Allowance for Doubtful Accounts method based on the income statement approach): (Click the icon to view the transactions.) (Record debits first, then credits. Exclude explanations from journal entries.) December 31, 2018: Recorded Bad Debts Expense of $15,000. January 7, 2019: Wrote off Gene Savage's account of $1,000 as uncollectible. More Info March 5, 2019: Wrote off Paul Jones's account of $800 as uncollectible. July 8, 2019: Recovered $400 from Paul Jones. Prepare the entry to reinstate the account. July 8, 2019: Recovered $400 from Paul Jones. Prepare the entry to record the collection. August 19, 2019: Wrote off Bob Shatner's account of $1,000 as uncollectible. August 24, 2019: Wrote off Jill Nelson's account of $850 as uncollectible. November 19, 2019: Recovered $450 from Bob Shatner. Prepare the entry to reinstate the account. November 19, 2019: Recovered $450 from Bob Shatner. Prepare the entry to record the collectionStep by Step Solution
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