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The following information applies to the questions displayed below.j Peet's Coffee & Tea, Inc., is a specialty coffee roaster and marketer of branded fresh-roasted whole
The following information applies to the questions displayed below.j Peet's Coffee & Tea, Inc., is a specialty coffee roaster and marketer of branded fresh-roasted whole bean coffee. It recently disclosed the following information concerning the Allowance for Doubtful Accounts on its Form 10-K Annual Report submitted to the Securities and Exchange Commission. A summary of the Allowance for Doubtful Accounts is as follows (dollars in thousands) Allowance Balance at Beginning of Period Additions Balance at for Doubtful Accounts Year 1 Year 2 Year 3 Charges) to Expense End of Period $154 Write-Offs $ 20 $ 103 154 182 20 75 Required: 1. Record the journal entries related to bad debts for year 3. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in thousands.) View transaction list Journal entry worksheet 2 Record the end-of-period bad debt expense estimate Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Required: 1. Record the journal entries related to bad debts for year 3. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in thousands.) View transaction list Journal entry worksheet Record the write-off of bad debts. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general journal 2-a. Compute the missing dollar amounts for year 1. (Enter your answers in thousands not in dollars.) Allowance for DA Year 1 Beg. bal End. bal 0 2-b. Compute the missing dollar amounts for year 2. (Enter your answers in thousands not in dollars.) Allowance for DA Year 2 Beg. bal. End. bal. 0
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