Problem #2: Allowance for Doubtful Account Journal Entries

1. On 12/31/17, J.W. Market had an Accounts Receivable balance of $57,000 and an Allowance for Doubtful Accounts debit balance of $3,350. J.W. Market estimates that 6% of its accounts receivable will become uncollectible. Record the Bad Debt Expense for the period.

2. On 4/1/18, the $780 AR account of Spotted Dog Inc. was determined to be uncollectible & written off.

3. On 5/15/18, Spotted Dog Inc. paid J.W. Market $780 that was previously written-off.