Rays GamePlace sells all the hottest gear and video games. On January 1, Year Three, Rays had the following account balances:

Figure 7.20accounts receivable 27,000 less allowance for doubtful accounts(4000) net accounts receivable 23,000

1. During Year Three, Rays wrote off $6,000 in uncollectible accounts. Make this journal entry.
2. One account in the amount of $500 that had been written off in (a) above was later collected during the year. Make the journal entries to reinstate the account and show its collection.
3. During Year Three, Rays made credit sales of $145,000 and collected $115,000 of accounts receivable. Record these journal entries.
4. At the end of the year, Rays determines that approximately 7 percent of its ending accounts receivable balance will not be collected. Make the necessary journal entry.