Question: PROBLEM # 1 - Accounts Receivable On December 3 1 , 2 0 2 4 , Timberwolves Corporation had the following account balances related

PROBLEM \# 1- Accounts Receivable On December 31,2024, Timberwolves Corporation had the following account balances related to credit sales and receivables prior to recording adjusting entries: Prepare the necessary journal entries for each of the following independent assumptions: A An account was recognized as a bad debt in July. Amount is \(\$ 350\) B At December 31 an aging of accounts receivable is completed. It is estimated that \(\$ 2,150\) of the receivables outstanding at year-end will be uncollectible. C Assume the same information presented in part B. except that prior to adjustment, the allowance for doubtful accounts had a debit balance of \(\$ 200\) rather than a credit balance of \(\$ 200\). D At December 31 it is estimated that a provision for bad debts is required for \(1\%\) of credit sales for the year. JOURNAL
PROBLEM \ # 1 - Accounts Receivable On December 3

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