B. On December 31, journalize the write-offs for 2016 under the allowance method. Also, journalize the adjusting entry for uncollectible accounts. The company recorded $5,250,000 of credit sales during 2016. Based on past history and industry averages, % of credit sales are expected to be uncollectible. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles.

Casebolt Company wrote off the following accounts receivable as uncollectible for the first year of its operations ending December 31, 2016:

Customer	Amount
Shawn Brooke	$ 4,650
Eve Denton	5,180
Art Malloy	11,050
Cassie Yost	9,120
Total	$30,000