Requirement 1, Journal Entries:

1) Record the write-off of receivables.

2) Record the reinstatement of an account previously written off.

3) Record collection of account previously written off.

4) Record bad debt expense for the year.

Check my work 5 Colorado Rocky Cookie Company offers credit terms to its customers. At the end of 2018, accounts receivable totaled $670,000. The allowance method is used to account for uncollectible accounts. The allowance for uncollectible accounts had a credit balance of $41,000 at the beginning of 2018 and $25,500 in receivables were written off during the year as uncollectible. Also, $2,100 in cash was received in December from a customer whose account previously had been written off. The company estimates bad debts by applying a percentage of 15% to accounts receivable at the end of the year. 12.6 points Required 1. Prepare journal entries to record the write-off of receivables, the collection of $2,100 for previously written off receivables, and the year-end adjusting entry for bad debt expense 2. How would accounts receivable be shown in the 2018 year-end balance sheet? eBook Hint Print References Complete this question by entering your answers in the tabs below Required 1 Required 2 Prepare journal entries to record the write-off of receivables, the collection of $2,100 for previously written off recelvables, and the year- end adjusting entry for bad debt expense. (If no entry is required for a transaction/event, select "No journal entry required" in the first account fleld.) View transaction list 2. How would accounts receivable be shown in the 2018 year-end balance sheet? Complete this question by entering your answers in the tabs below. Required 1 Required 2 How would accounts receivable be shown in the 2018 year-end balance sheet? Balance Sheet (Partial) Current Assets Accounts receivable (net) Required 1 Required 2