question #31 part d continued cash 6,000 and accounts receivable 6,000

Question 30 3 pts Jacobson uses the balance sheet approach for estimating bad debts and in calculating the balance in the allowance for doubtful accounts. The following aging information pertains to Jacobsen Co.'s accounts receivable at December 31, 2018: Days Outstanding Amount Estimated % Uncollectible 0-30 $ 420.000 2 % 31-60 140,000 5 % 61-120 100.000 10 % Over 120 120.000 20 % During 2018, Jacobsen wrote off $18,000 in receivables and recovered $6,000 that had been written off in prior years. Jacobsen's December 31, 2017, allowance for doutbful accounts was $40,000. What is the appropriate year-end adjusting entry Jacobson must use to record bad debts expense and update the allowance for doubtful accounts on December 31, 2018? Allowance for Doubtful Accounts 31,400 Accounts Receivable 31,400 B Bad Debts Expense 49,400 Allowance for Doubtful Accounts 49,400 Bad Debts Expense 28.000 Cash 28.000 13,000 D Bad Debts Expense 21.400 Allowance for Doubtful Accounts 21,400 A B D Days Outstanding Amount Estimated % Uncollectible 0-30 $ 420,000 2 % 31-60 140.000 5 % 61-120 100.000 10 % Over 120 120.000 20 % During 2018, Jacobsen wrote of $18,000 in receivables and recovered $6,000 that had been written off in prior years. Jacobsen's December 31, 2017, allowance for doubtful accounts was $40,000. For Jacobson, which of the following is the appropriate set of journal entries for the subsequent collection of receivables previously written-off? A Accounts Receivable 6,000 Allowance for Doubtful Accounts 6,000 Cash 6,000 Accounts Receivable 6,000 B Cash 6,000 Accounts Receivable 6,000 Bad Debts Expense 6,000 Allowance for Doubtful Accounts 6.000 Bad Debts Expense 6,000 6,000 Cash 6.000 Cash 6,000 Accounts Receivable 6,000 D Allowance for Doubtful Accounts 6,000 Accounts Receivable 6,000