Presented below is an aging schedule for Blossom Company at December 31,2024. At December 31, 2024, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $7,600. Post to the allowance account these 2025 events. (Post entries in the order of journal entries presented in the previous part.) Your answer is incorrect. Enter the January 1, 2025, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts and determine the balances. (Post entries in the order of journal entries presented in the previous part.) Accounts Receivable At December 31, 2024, Pharoah Imports reported this information on its balance sheet. During 2025, the company had the following transactions related to receivables. 4. Allowance for Doubtful Accounts 40000 Accounts Receivable 5. Accounts Receivable 14000 Allowance for Doubtful Accounts 14000 (To reinstate account previously written off) Cash 14000 Accounts Receivable 14000 (To record collection of accounts receivable) Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts recelvable. (Omit cost of goods sold entries.) (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 0 for the amounts) Presented below is an aging schedule for Blossom Company at December 31,2024. At December 31, 2024, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $7,600. Post to the allowance account these 2025 events. (Post entries in the order of journal entries presented in the previous part.) Your answer is incorrect. Enter the January 1, 2025, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts and determine the balances. (Post entries in the order of journal entries presented in the previous part.) Accounts Receivable At December 31, 2024, Pharoah Imports reported this information on its balance sheet. During 2025, the company had the following transactions related to receivables. 4. Allowance for Doubtful Accounts 40000 Accounts Receivable 5. Accounts Receivable 14000 Allowance for Doubtful Accounts 14000 (To reinstate account previously written off) Cash 14000 Accounts Receivable 14000 (To record collection of accounts receivable) Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts recelvable. (Omit cost of goods sold entries.) (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 0 for the amounts)
