Wilson's Auto Repair ended 2015 with Accounts Receivable of $85,000 and a credit balance in Allowance for

Question:

Wilson's Auto Repair ended 2015 with Accounts Receivable of $85,000 and a credit balance in Allowance for Uncollectible Accounts balance of $11,000. During 2016, Wilson's Auto Repair had the following activity:

a. Service revenue earned on account, $545,000

b. Collections on account, $575,000

c. Write-offs of un-collectibles, $19,000

d. Bad debt expense, estimated as 3 percent of service revenue on account Journalize Wilson's Auto Repair's activity for 2016.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...