Prepare journal entries for each transaction: Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. 1. On September 29, an account receivable for $3,400 was determined to be worthless and written off.  2. The company estimates 2% of credit sales are uncollectible. At year-end (December 31), it recorded the appropriate bad debt expense adjustment. Credit sales for the year were $800,000. On December 30, there were $600 of accounts receivable not yet collected and the balance in the allowance for doubtful accounts was $14.

Answer rating: 100% (QA)

Answer 1 On September 29 an account receivable for 3400 was determined to ... View the full answer