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Wheelys, Inc., designs and sells footwear with a wheel in the heel, worn by sometimes-annoying kids at shopping malls. Assume it recently disclosed the following
Wheelys, Inc., designs and sells footwear with a wheel in the heel, worn by sometimes-annoying kids at shopping malls. Assume it recently disclosed the following information concerning the Allowance for Doubtful Accounts in its annual report. Required: 1-a. Complete the T-account for the Allowance for Doubtful Accounts by entering into it the 2020 amounts from the above schedule. (Enter your answers in thousands.) 1-b. Complete the T-account in equation format given below to prove that the above items account for the changes in the account. (Enter your answers in thousands.) 2. This part of the question is not part of your Connect assignment. 3. Record summary journal entries for 2019 related to (a) estimating Bad Debt Expense and (b) writing off specific balances. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in thousands.) Journal entry worksheet > > Record the estimate of Bad debt expenses for 2019. Note: Enter debits before credits. 4. Supply the missing dollar amount for 2018. (Enter your answer in thousands.)
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