What journal entry would be made at the end of 2018 to record the bad debt expense using the percent of credit sales method if a company had $90,000 of sales or service revenue in 2018 that was on account (on credit), and the company estimates that 3% of sales or service revenue that was on account (on credit) will become uncollectible?

2. What journal entry would be made at the end of 2018 to record the bad debt expense using the accounts receivable aging method based on the following information:

Amount of accounts receivable % estimated to be uncollectible

Not yet due $35,000 2%

Less than 90 days overdue $10,000 10%

Over 90 days overdue $5,000 40%

______

Total $50,000

Assume that before this entry the Allowance for Doubtful Accounts had a credit (right-side) balance of $700.

3. What journal entry would be made to write off an account receivable when a company determines that an account receivable of $80 will never be collected?

4. What journal entry would be made to reverse the write off in question #3 if the company unexpectedly finds out later that the $80 receivable that had been written off will actually be collected?