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The Accounts Receivable balance for Southside Company at December 31, 2017, was $29,000. During 2018, Southside eamed revenue of $455,000 on account and collected $328,000
The Accounts Receivable balance for Southside Company at December 31, 2017, was $29,000. During 2018, Southside eamed revenue of $455,000 on account and collected $328,000 on account Southside wrote off S5 500 receivables as uncollectible. Industry expenence suggests that uncollectible accounts will amount to 6% o accounts rece vable. Read the requirements. Requirement 1. Assume Southside had an unadjusted $1,900 credit balance in Allowance for Bad Debts at December 31, 2018. Journalize Southside's December 31, 2018, 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 Requirement 2. Assume Southside had an unadjusted $1,500 debit balance in Allowance for Bad Debts at December 31, 2018. Joumalize Southside's December 31, 2018, 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.) Ani 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
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