the garvey sign company uses the allowance method in accounting for uncollectible accounts.

The Garvey Sign Company uses the allowance method in accounting for uncollectible accounts. Past experience indicates that 5% of accounts receivable will eventually be uncollectible. Selected account balances at December 31, 2011, and December 31, 2012, appear below: Record the following events in 2012 and post. Sept. 12, 2012 Determined that the account of Jill Lynch for $3,000 is uncollectible. Oct. 10, 2012 Received a check for $3000 as payment on account from Jill Lynch, whose account had previously been written off in 2012 was uncollectible. Prepare the adjusting journal entry to record the bad debt provision for the year ended December 31, 2012. Would your answer be different if there was a Dr. balance of 4,000 in the allowance account at 12/31/11? Would your answer be different if there was a zero balance in the allowance account at 12/31/11? What should be the balance of Allowance for Doubtful Accounts at December 31, 2012? What is the direct write off method and why is the allowance write off method preferred over the direct method