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Pogo Corporation sells merchandise only on credit. For the year ended December 31, 2020, the following data is available: $3,200,000 300,000 (DR) 30,000 (CR) 3,160,000

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Pogo Corporation sells merchandise only on credit. For the year ended December 31, 2020, the following data is available: $3,200,000 300,000 (DR) 30,000 (CR) 3,160,000 24,000 Sales Accounts receivable, 1/1/20 Allowance for doubtful accounts, 1/1/20 Collections of accounts receivable in 2020 Accounts written off as uncollectible in 2020 1. What is Pogo's balance in the Accounts Receivable account at December 31, 2020? 2. What entry should Pogo make to writeoff the $24,000 of uncollectible accounts during 2020? (One aggregate entry) 3. What is Pogo's balance in the Allowance for Doubtful Accounts at December 31, 2020 before any adjustments, but after the writeoffs? 4. Pogo estimates that 10% of the December 31, 2020 accounts receivable will ultimately be uncollectible, what adjusting journal entry should Pogo make on December 31, 2020? 4. Pogo estimates that 10% of the December 31, 2020 accounts receivable will ultimately be uncollectible, what adjusting journal entry should Pogo make on December 31, 2020? 5. How would the accounts receivable allowance for doubtful accounts be reported on the balance sheet of Pogo Corporation at December 31, 2020? 6. Separate from the items above, if Pogo receives payment from a customer whose account receivable of $4,000 was previously written off, what journal entries must Pogo make to record this transaction

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