The company uses the percentage$-$of$-$sales approach to account for uncollectible accounts. Based on past experience, bad debts typically average $3\%$ of sales revenue

REQUIRED:

A$.$ Prepare the December $31,2023$ adjusting journal entry for uncollectible accounts. Show details of any calculations.

B$.$ Calculate the dollar amount that would appear on the December $31,2023$ balance sheet for Allowance for Doubtful Accounts

C It is now May $25,2024$ and the company has just received word that one of its customers owing $$1,000$ will be unable to pay the amount owing because the customer has gone out of business due to financial problems. Prepare the journal entry to write off the account.