v2.cengagenow.com Cloud Yahoo Bing Google Wikipedia Facebook Twitter Linkedin The Weather Channel Yelp TripAdvisor Safety and B.Workbook.pdf Dox (1,208) 1270m westga.e CengageNOWv21 Chine teaching and CengageNOWv2| Online teaching an.. ACCT 2101 Chapter 5 Solutions Prin eBook Cornerstone Exercise 5-26 (Algorithmic) Write-Off of Uncollectible Accounts The Rock has credit sales of $550,000 during 2019 and estimates at the end of 2019 that 2% of these credit sales will eventually default. Also, during 2019 a customer defaults on a $1,900 balance related to goods purchased in 2019. Required: 1. Prepare the journal entry to record the defaulted balance. Allowance for Doubtful Accounts Accounts Receivable Record write-off of defaulted account 1,500 1,900 2. Prepare the adjusting entry to record the bad debt expense for 2019, Bad Debt Expense Allowance for Doubtful Accounts Record adjusting entry for bad debt expense estimate Check My Work S 888 24 R % 85 ^ 6 Next All work saved. Email Instructor Save and Exit Submit Assignment for Grading &7 Y U * 8 19 ' 9 0 BB O P