Prepare the adjusting entry on December 31,2027, to recognize bad debt expense. (Credit account titles are automatically indented when the 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. List debit entry before credit entry.) These transactions took place for Ivanhoe Co. Record the transactions in the general journal. The company does not make entries to accrue interest except at December 31 . (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Record the following events in 2027. (Credit account titles are automatically indented when the 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. List all debit entries before credit entries.) Aug. 10 Determined that the account of Sue King for $800 is uncollectible Sept. 12 Determined that the account of Tom Young for $3,700 is uncollectible Oct. 10 Fleming received a check for $500 as payment on account from Sue King, whose account had previously been written off as uncollectible. She indicated the remainder of her account would be paid in November. Nov. 15 Received a check for $300 from Sue King as payment on her account Current Attempt in Progress Molina Company had a $700 credit balance in Allowance for Doubtful Accounts on December 31, 2027, before the current year's provision for uncollectible accounts. An aging of the accounts receivable revealed the following: (a) Prepare the adjusting entry on December 31, 2027, to recognize bad debt expense. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter o for the amounts. List debit entry before credit entry.) Fleming Sign Company uses the allowance method in accounting for uncollectible accounts. Past experience indicates that 6% of accounts receivable will eventually be uncollectible. Selected account balances on December 31, 2026, and December 31, 2027. appear below: (a) Record the following events in 2027. (Credit account titles are automatically indented when tige amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enfer o for the amounts. List all debit entries before credit entries.) Aug. 10 Determined that the account of Sue King for $800 is uncollectible Sept. 12 Determined that the account of Tom Young for $3,700 is uncollectible Oct. 10 Fleming received a check for $500 as payment on account from Sue King, whose account had previously been written off as uncollectible. She indicated the remainder of her account would be paid in November. Nov. 15 Received a check for $300 from Sue King as payment on her account Record the transactions in the general journal. The company does not make entries to accrue interest except at December 31 . (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) If Allowance for Doubtful Accounts has a credit balance of $4,400 in the trial balance and bad debts are expected to be 10% of accounts receivable, journalize the adjusting entry for the end of the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.) Question 3 of 4 .12 (To reinstate Sue King account previously written off) (To record collection on account) eTextbook and Media List of Accounts Sive for Later Attempts: 0 of 3 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above
