Please correct the wrong answer

Current Attempt in Progress Your answer is partially correct. Information on Grouper Corp., which reports under ASPE, follows: July 1 Grouper Corp. sold to Sheridan Company merchandise having a sales price of $9,800, terms 2/10, n/60. Ignore cost of goods sold entry. 3 w Sheridan Company returned defective merchandise having a sales price of $800. The merchandise was not saleable and was scrapped. 5 9 Accounts receivable of $19,000 are factored with Sheffield Corp. without recourse at a financing charge of 9%. Cash is received for the proceeds and collections are handled by the finance company. Specific accounts receivable of $15,200 (gross) are pledged to Landon Credit Corp. as security for a loan of $10,600 at a finance charge of 3% of the loan amount plus 9% interest on the outstanding balance. Grouper will continue to make the collections. All the accounts receivable pledged are past the discount period and were originally subject to a 2% discount. Dec. 29 Sheridan Company notifies Grouper that it is bankrupt and will be able to pay only 10% of its account. Give the entry to write off the uncollectible balance using the allowance method. ) (a) Date Account Titles and Explanation Debit Credit 7/1 Accounts Receivable 9604 Sales Revenue 9604 7/3 Sales Returns and Allowances 784 Accounts Receivable 784 7/5 Cash 17290 Finance Expense 1710 Accounts Receivable 19000 7/9 Cash 900 Allowance for Doubtful Accounts 8100 Accounts Receivable 9000 12/29 Allowance for Doubtful Accounts 180 Accounts Receivable 180