The Accounts Receivable balance for Gold Company at December 31, 2019, was $27,000. During 2020, Gold earned revenue of $460,000 on account and collected $327,000 on account. Gold wrote off $5,700 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 2% of accounts receivable. Required Requirement 1. Assume Gold had an unadjusted $1,800 credit balance in Allowance for Bad Debts at December 31, 2020. Journalize Gold's December 31, 2020, adjustment to record bad debts expense using the percent-of-receivables method (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec - X 31 Required 1. Assume Gold had an unadjusted $1.800 credit balance in Allowance for Bad Debts at December 31, 2020 Journalize Gold's December 31, 2020, adjustment to record bad debts expense using the percent-of-receivables method. Assume Gold had an unadjusted $1.700 debit balance in Allowance for Bad Debts at December 31, 2020. Journalize Gold's December 31, 2020. adjustment to record bad debts expense using the percent-of-receivables method. 2. Requirement 2. Assume Gold had an unadjusted $1.700 debit balance in Allowance for Bad Debts at December 31 2020 J percent-of-receivables method (Record debits first, then credits. Select the explanation on the last line of the journal Date Accounts and Explanation Debit Credit Dec 31 Print Done Choose from any list or enter any number in the input fields and then continue to the next question Delste F12 FIO FIL FO Poute Break Pin se SysRg F2 FB FS F2 F3 ESC Nuk Scelk F Required ables The Accounts Receivable balance for Gold Company at December 31, 2019, was $27.000. During 2020, Gold earne uncollectible. Industry experience suggests that uncollectible accounts will amount to 2% of accounts receivable 1. Required Date Accounts and Explanation Debit Credit Assume Gold had an unadjusted $1,800 credit balance in Allowance for Bad Debts at December 31, 2020. Journalize Gold's December 31, 2020, adjustment to record bad debts expense using the percent-of-receivables method Assume Gold had an unadjusted $1,700 debit balance in Allowance for Bad Debts at December 31, 2020. Journalize Gold's December 31, 2020, adjustment to record bad debts expense using the percent-of-receivables method 2. Dec 31 Print Done Requirement 2. Assume Gold had an unadjusted $1,700 debit balance in Allowance for Bad Debts at December 31, 2020 Journalize Gold's December 31, 2020 adjustment to record bad debts expense using the percent-of-receivables method (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec 31 Choose from any list or enter any number in the input fields and then continue to the next question F12 F10 Pause Break FO F8 P7 Sysra Inson FE F2 F3 ESC tuner Sex
