Question: On December 31 2013 when its Allowance for Doubtful Accounts

On December 31, 2013, when its Allowance for Doubtful Accounts had a debit balance of $1,400, Hunt Co. estimates that 9% of its accounts receivable balance of $90,000 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. On May 11, 2014, Hunt Co. determined that J. Byrd’s account was uncollectible and wrote off $1,200. On June 12, 2014, Byrd paid the amount previously written off.

Instructions
Prepare the journal entries on December 31, 2013, May 11, 2014, and June 12, 2014.




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  • CreatedApril 07, 2014
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