On January $1,2024,$ C$$i H$$ng Ltd$.$ had a $$43,000$ balance in Accounts Receivable

and a $$2,100$ credit balance in Allowance for Expected Credit Loss. During January,

C$$i H$$ng Ltd$.$ made sales of $$95,000,80\%$ of which were on account. January cash

collections on account were $$63,000$; write$-$offs of uncollectible receivables

totalled $$1,100$; and an account of $$850,$ which had previously been written$-$off,

was recovered on January $23.$

After careful assessment of the updated accounts receivables, C$$i H$$ng Ltd$.$

estimates that $$2,900$ won't be collected.

Requirement $1$: In your workings, update the account balances for Accounts

Receivable and for Allowance for Estimated Credit Loss as at January $31,2024,$

according to the information above.

Requirement $2$: In your workings, write out the required journal entries for the the

write$-$offs $($$$1,100)$ and the recovered amount $($$$850).$

Requirement $3$: In your workings, journalize the estimated credit loss expense

accordingly.

Please fill out the blanks below. After submitting the exam, upload your calculations

and journal entries to the dropbox.

Blank #$1($Req$1)$: What is the updated Accounts Receivable balance?

Blank #$2($Req$1)$: What is the updated Allowance for Estimated Credit Loss balance?

Blank #$3($Req$2)$: Which account needs to be debited in the journal entry to record

the write$-$off? $($use same spelling as in the text above$)$

Blank #$4($Req$2)$: Which account needs to be credited in the journal entry to record

the write$-$off? $($use same spelling as in the text above$)$

Blank #$5($Req$3)$: Which account needs to be debited in the journal entry to record

the estimated credit loss?

Blank #$6($Req$3)$: What $$-$amount has to be debited in the journal entry to record the

estimated credit loss?

Required number format: only enter plain numbers, no $$-$signs or commas. Round

final results to total $$-$amounts.