During its first year of operations, Winter Retreat Inc. had sales of $1,080,000, all on account....

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During its first year of operations, Winter Retreat Inc. had sales of $1,080,000, all on account. Industry experience suggests that Winter Retreat's bad debt expense will be $23,760. At December 31, 2019, Winter Retreat's accounts receivable total $85,000. The company uses the allowance method to account for uncollectibles. Requirements 1. Make Winter Retreat's journal entry for bad debt expense. 2. Show how Winter Retreat could report accounts receivable on its balance sheet at December 31, 2019, by disclosing the allowance for uncollectible accounts. 1. Make Winter Retreat's journal entry for bad debt expense. (Record debits first, then credits. Explanations are not required.) Journal Entry Accounts Debit Credit 2. Show how Winter Retreat could report accounts receivable on its balance sheet at December 31, 2019, by disclosing the allowance for uncollectible accounts. (Use parentheses or a minus sign to indicate numbers to be subtracted.) Balance Sheet During its first year of operations, Winter Retreat Inc. had sales of $1,080,000, all on account. Industry experience suggests that Winter Retreat's bad debt expense will be $23,760. At December 31, 2019, Winter Retreat's accounts receivable total $85,000. The company uses the allowance method to account for uncollectibles. Requirements 1. Make Winter Retreat's journal entry for bad debt expense. 2. Show how Winter Retreat could report accounts receivable on its balance sheet at December 31, 2019, by disclosing the allowance for uncollectible accounts. 1. Make Winter Retreat's journal entry for bad debt expense. (Record debits first, then credits. Explanations are not required.) Journal Entry Accounts Debit Credit 2. Show how Winter Retreat could report accounts receivable on its balance sheet at December 31, 2019, by disclosing the allowance for uncollectible accounts. (Use parentheses or a minus sign to indicate numbers to be subtracted.) Balance Sheet