Question: Allowance for Bad Debts Date 2015 Description PR Debit Credit Balance Balance Credit Debit 2. Complete the Allowance for bad debt ledger and determine the

					Allowance for Bad Debts
Date 2015	Description	PR	Debit	Credit	Balance	Balance Credit
Date 2015	Description	PR	Debit	Credit	Debit	Balance Credit

2. Complete the Allowance for bad debt ledger and determine the ending balance.

March 2: A letter was received that Ceramic Enterprises LTD had declared bankruptcy and would not be paying the $2,718 owed to Foxmore.

March 14: In February, the company had written off the Mason Inc accounts receivable. Today, they received a cashiers check in the amount of $270.

July 3: It has been determined that $965.00 the Major Co account has become uncollectible.

September 9: Ceramic Enterprises LTD has sent a check for $782 in partial payment of their account which Foxmore had written off in March.

December 31: Net sales for the year were $462,600.00. It has been determined that 2% of net sales will not be collected.

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