Question: Exercise 8-07 On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1,403, Bridgeport Corp. estimates that 9% of its

Exercise 8-07 On December 31, 2021, when its Allowance for Doubtful

Exercise 8-07 On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1,403, Bridgeport Corp. estimates that 9% of its accounts receivable balance of $94,500 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. On May 11, 2022, Bridgeport Corp. determined that B. Jared's account was uncollectible and wrote off $1,179. On June 12, 2022, Jared paid the amount previously written off. Prepare the journal entries on December 31, 2021, May 11, 2022, and June 12, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Account Titles and Explanation Debit Credit Date (To reinstate account previously written off) Open Show Work Click if you would like to Show Work for this question: By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor

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