Question: 1. On December 31, 2016, when its Allowance for Doubtful Accounts had a debit balance of $1,476, Coronado Industries estimates that 10% of its accounts

1. On December 31, 2016, when its Allowance for Doubtful Accounts had a debit balance of $1,476, Coronado Industries estimates that 10% of its accounts receivable balance of $98,500 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. 2. On May 11, 2017, Coronado Industries determined that B. Jared's account was uncollectible and wrote off $1,168. 3. On June 12, 2017, Jared paid the amount previously written off. Prepare the journal entries on automatically indented when amount is entered. Do not indent manually.) December 31, 2016, May 11, 2017, and June 12, 2017. (Credit account titles are Credit Debit Account Titles and Explanation No. Date 1. December 31, 2016 Bad Debt Expense T11326 Allowance for Doubtful Accounts 111326 ubtful Accounts 1178 2. IMay 11, 2017 TAllowance for 1178 TAccounts Receivable 1178 3. pune 12, 2017 TAccounts Receivable Allowance for Doubtful Accounts 1178 (To reinstate account previously written off) 1178 Cash 1178 TAccounts Receivable

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