At December 31, 2021, when Allowance for Doubtful Accounts had a debit balance of $1,295, Sweet Acacia
Question:
At December 31, 2021, when Allowance for Doubtful Accounts had a debit balance of $1,295, Sweet Acacia Industries estimates that 7% of the $77,600 accounts receivable balance will be uncollectible and records the required adjustment to Allowance for Suspicious Accounts. On May 11, 2022, Sweet Acacia Industries determined that B. Jared's account was uncollectible and wrote $1,286. On June 12, 2022, Jared paid the previously deleted amount. Prepare journal entries
for December 31, 2021, May 11, 2022, and June 12, 2022 . (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record the journal entries in the order given in the problem.)
History | Account Titles and Description | debt | Credit |
---|---|---|---|
Choose a transaction date December 31, 2021 May 11, 2022 June 12, 2022 | Enter an account title | Enter a loan amount | Enter a loan amount |
Enter an account title | Enter a loan amount | Enter a loan amount | |
Choose a transaction date December 31, 2021 May 11, 2022 June 12, 2022 | Enter an account title | Enter a loan amount | Enter a loan amount |
Enter an account title | Enter a loan amount | Enter a loan amount | |
Choose a transaction date December 31, 2021 May 11, 2022 June 12, 2022 | Enter an account title to restore the previously closed account | Enter a loan amount | Enter a loan amount |
Enter an account title to restore the previously closed account | Enter a loan amount | Enter a loan amount | |
(To restore previously closed account) | |||
Enter an account title | Enter a loan amount | Enter a loan amount | |
Enter an account title | Enter a loan amount |
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118644942
6th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine