Starbucks its customers 30 days credit. The company uses the allowance method for its uncollectible accounts receivable.

Bad debt accrual is made by multiplying 3% times the amount of credit sales for the year. At the fiscal year-end of December 31, an aging of accounts receivable schedule is prepared and the allowance for uncollectible accounts is adjusted accordingly.

At the beginning of 2023, accounts receivable were $57,400 and the allowance account had a credit balance of $54,00.

Accounts receivable activity for 2023 was as follows:

Beginning balance $ 57,200

Credit sales 640,000

Collections (626,600) 14000(still have to collect)

Write-offs (6,800)

Ending balance $ 64,200

The companys controller prepared the following aging summary of year-end accounts receivable:

Age Group Amount Percent Uncollectible sum

060 days $ 43,000 4%

6190 days 9,800 15

91120 days 6,000 25

Over 120 days 5,200 40

Total $ 64,000

prepare a journal entry for year end