Question 10 Incompete answer Marked out of 900 P Flag question Journal Entries for Credit Losses At January 1, the Griffin Company had the following accounts on its books: Accounts Receivable $127.000 Debit Allowance for Doubtful Accounts $7,800 Credit During the year, credit sales were: $821,000 and collections on account were: $795.000 $2.900 $1,100 The following transactions, among others, occurred during the year. Jan. 11 Wrote off). Wolf's account Apr 29 Wrote off 8. Avery's account Nov. 15 Received $1,100 from 1. Avery, to pay a debt that had been written off on April 29, in final settlement of the account written off on April 29 This amount is not included in the 5795.000 collections Decos Wrote off. Wrights account Dec.31 in an adjusting entry, recorded the allowance for doubtful accounts at of credit sales for the year $2,250 19 Required a. Prepare the journal entries to record the credit sales, the collections on account, the transactions and the adjustment b. Show how Accounts Receivable including the credit balances) and the Allowance for Doubtful Accounts appear on the December 31 balance sheet Debat 795000 $ $ Credit 0 795000 . General Journal Date Description Dec 31 Cash Accounts Receivable To record sales revent for the year Dec 31 Allowance for Do Accounts Accounts Receivable To record collections on account for the year Jan 11 Allowance for Doubtful Accounts Accounts Receivable 0 2900 0 . 2000 1100 0 1100 MacBook Air !! My Subsc Credit Debit 795000 $ 0 795000 2900 0 0 2900 D 1100 0 1100 General Journal Date Description Dec 31 Cash $ Accounts Receivable To record sales revenue for the year. Dec 31 Allowance for Doubtful Accounts Accounts Receivable To record collections on account for the year jan. 11 Allowance for Doubtful Accounts Accounts Receivable To write off) Wolf's account Apr 29 Accounts Receivable Allowance for Doubtful Accounts To write off B. Avery's account Nov. 15 Cash Accounts Receivable . To reinstate B. Avery's account for partial recovery. Nov.15 Allowance for Doubtful Accounts Accounts Receivable To record collection from B. Avery Dec 05 Bad Debts Expense Allowance for Doubtful Accounts To write-off. Wris account Dec. 31 1100 0 0 1100 1100 O 0 1100 0 0 0 0 0 0 To record lowance for doubtful accounts Accounts Receivable Less: Allowance for Doubtful Accounts : 0 0 0 5 Please answer all parts of the question Previous Save Answers MacBook Air