On December 31, 2019, Ling Co. estimated that 2% of its net accounts receivable of $450,000 will

Question:

On December 31, 2019, Ling Co. estimated that 2% of its net of $450,000 will become uncollectible. The company recorded this amount as an addition to Allowance for Doubtful Accounts. The allowance account had a zero balance before adjustment on December 31, 2019. On May 11, 2020, Ling Co. determined that the Jeff Shoemaker account was uncollectible and wrote off $1,100. On June 12, 2020, Shoemaker paid the amount previously written off.
Instructions
Prepare the journal entries on December 31, 2019, May 11, 2020, and June 12, 2020.
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...