Question: Millenium Associates records bad debt using the allowance, balance sheet method they record 395,420 in accounts reacivable for the year and 815,270 in credit sales.

Millenium Associates records bad debt using the allowance, balance sheet method they record 395,420 in accounts reacivable for the year and 815,270 in credit sales. The uncollectable percentage is 3.4 percent. On november 22 millenium associates identifies one uncollectable account from angela hardware in the amount of 3,850 on december 18, angels hardware unexpectedly pays its account in full record the journal entry

10. Angers te unexpectedly pays its account in full. Record journal entries for the following. A. Year-end adjusting entry for 2017 bad debt B. November 22, 2018 identification entry C. Entry for payment on December 18, 2018 If an amount box does not require an entry, leave it blank. Round your answers to two decimal plac Dec. 31, 2017 Bad Debt Expense Allowance for Doubtful Accounts To record bad debt expense, balance sheet method Nov. 22, 2018 Allowance for Doubtful Accounts Accounts Receivable: Angel's Hardware To record bad debt for identified customer Dec. 18, 2018 Accounts Receivable: Angel's Hardware Allowance for Doubtful Accounts To reinstate previously written-off bad debt Dec. 18, 2018 Cash Accounts Receivable: Angel's Hardware To record full payment Feedback The balance sheet approach is concerned about using the recorded receivables (as opposed to the sales and

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