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The balance sheet of Starsky Company at December 31, 2019, includes the following. Accounts receivable $ 182,100 Less: Allowance for doubtful accounts 17,300 $ 164,800
The balance sheet of Starsky Company at December 31, 2019, includes the following.
Accounts receivable | $ 182,100 |
Less: Allowance for doubtful accounts | 17,300 |
| $ 164,800 |
Transactions in 2020 include the following:
- Accounts receivable of $78,000 were collected
- Accounts receivable of $60,000 were collected, in which 2% sales discounts were granted.
- A $5,300 customer account that was written off the books as worthless in 2019 was reinstated.
- The $5,300 was received from the customer.
- Customer accounts of $17,500 were written off during the year.
- At year-end, Allowance for Doubtful Accounts was estimated to need a balance of $20,000. This estimate is based on an analysis of aged accounts receivable.
Instructions: Journalize the above transactions.
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