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The December 31, 2021, balance sheet of the Marigold Corp. had Accounts Receivable of $700,000 and a credit balance in Allowance for Doubtful Accounts of
The December 31, 2021, balance sheet of the Marigold Corp. had Accounts Receivable of $700,000 and a credit balance in Allowance for Doubtful Accounts of $32,000. During 2022 the following transactions occurred: sales on account $1,622,000: sales returns and allowances, 5109,000: collections from customers, 51,307,000; accounts written off $25.000 previously written off accounts of $9,000 were collected Jourrakre the 2022 transactions (Credit account bites are automatically indented when the movie is enter. Do not intent manually Account Titles and Explanation Debut Credit Accounts Receivable 1623000 Sales Raven 1623000 To record credit sales) Sales avenue 109000 Accounts Receivable 10900 To record credits to customers 1307000 Accounts Receivable 1300 To record collection of recevable) Allance for Dodbol Account 3800 accounts cable NON HACK Accounts Receivable (to write offspecific accounts) 35000 Accounts Receivable 9000 9000 Allowance for Doubtful Accounts (To reverse write-off of account) Cash 9000 9000 Accounts Receivable (To record collection of account) W LIST OF ACCOUNTS LINK TO TEXT If the company uses the percentage of recevables basis to estimate bad debt expense and determines that uncollectible accounts are expected to be of accounts receivatte: what is the adjusting entry at December 31, 2022 (Credit account titles are automatically Indented when the amount is entered. Do not Indent manually Date Account Titles and Explanation Debit Credit Dec 31 Bad Debt Expense Allowance for Doubtful Accounts
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