E$6-22($Algo$)$ Recording, Reporting, and Evaluating a Bad Debt Estimate Using the Percentage of Credit Sales Method LO$6-2$

During the current yeat, Bob's Ceramics Shop had sales revense of $$155,000,$ of which $$65,000$ was on credt At the start of the batance. Collections of accourts recelvable during the currert year amourthed to $352,000.$

Dete during the current year follow:

a$.$ On December $31,$ an Accouri Recilvalble $($Toby$\text{'}$s Gin Shoy$)$ of $51200$ fom a pris year was determined to be unccollectiblie; therelore, it was written of immediately as a bad debt. debt losses on $1\mathrm{.}5$ percent of credt sales for the year:

Required:

Complete this quention by emtering your anrwers in sthe take helien.

Reg $1$

Rex $2A$

Journal entry worksheet

$1$

$2$

On December $31,$ an Account Recelvable $($Taby$\text{'}$s Git Shep$)$ of $$1,200$ tran a prior year was determined to be uncollectible; therefore, $8$ was writhen of immediately as a bad debt.

Note: Enter debils before credits.

$\backslash$table$[[$Date$,,$Debit,Covds$],[$December $31,,,],[,,,],[,,,],[,,,],[,,,]]$