2. Please prepare journal entries related to the Allowance Method of the Accounting for Accounts Receivable...

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2. Please prepare journal entries related to the Allowance Method of the Accounting for Accounts Receivable for Kodiak Co. for their second year of business. You must prepare the required journal entries during year 2, post the T-account for the Allowance for Doubtful Accounts, and complete the Aging of Accounts Receivable Schedule in order to journalize the adjusting journal entry at 12/31/2. (Excel template provided for both the Journal Entries, Aging of Accounts Receivable and T-account for the Allowance for Doubtful Accounts) Transactions for Year 2: 3/1 Write-off uncollectible A/R from Blue $5,000 7/1 Write-off uncollectible A/R from Red $3,000 9/1 Write-off uncollectible A/R from Green $2,500 12/1 Collect $1,250 from Green (previously written-off) 12/31 Prepare adjusting journal entry to provide for next year's write-offs. (you must complete the aging schedule before you can make this journal entry) Extra 5 Points Using the same completed Aging of Accounts Receivable Schedule, please provide the adjusting journal entry at 12/31/2 assuming the Allowance for Doubtful Accounts has a credit balance of $375 at the end of year 2. 2. Please prepare journal entries related to the Allowance Method of the Accounting for Accounts Receivable for Kodiak Co. for their second year of business. You must prepare the required journal entries during year 2, post the T-account for the Allowance for Doubtful Accounts, and complete the Aging of Accounts Receivable Schedule in order to journalize the adjusting journal entry at 12/31/2. (Excel template provided for both the Journal Entries, Aging of Accounts Receivable and T-account for the Allowance for Doubtful Accounts) Transactions for Year 2: 3/1 Write-off uncollectible A/R from Blue $5,000 7/1 Write-off uncollectible A/R from Red $3,000 9/1 Write-off uncollectible A/R from Green $2,500 12/1 Collect $1,250 from Green (previously written-off) 12/31 Prepare adjusting journal entry to provide for next year's write-offs. (you must complete the aging schedule before you can make this journal entry) Extra 5 Points Using the same completed Aging of Accounts Receivable Schedule, please provide the adjusting journal entry at 12/31/2 assuming the Allowance for Doubtful Accounts has a credit balance of $375 at the end of year 2.

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