Question: I could use some help. 3. ENTRIES FOR BAD DEBT EXPENSE USING ALLOWANCE METHOD (10 Points) You are the accountant for Cascarone Company. You use

I could use some help.

3. ENTRIES FOR BAD DEBT EXPENSE USING ALLOWANCE METHOD (10 Points) You are the accountant for Cascarone Company. You use the allowance method for accounting for bad debt. Journalize the following transactions for the year 2017. Date May 1 June 1 July 1 Transaction Received $1,000 as partial payment on the $10,000 account receivable of Confetti Corp. Wrote of the remaining $9,000 balance as uncollectible. Write off account receivable for Egg Hunters Inc in the amount of $500. Received the $9,000 from Confetti Corp. whose account had been written off on May 1, Reinstate the account and record the cash receipt. Write off the following account as uncollectible: Dec 31 Duckling Delivery S200 Dec 31 Journalize the year end allowance entry for uncollectible accounts. Based on history the adjustment amount will be 520.000

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