View Policies Current Attempt in Progress Crane Tools uses the allowance method to account for uncollectible accounts. May Aus Dec 20 The account of Barack Obama for $1.567 was deemed to be uncollectible and is written off as a bad debt 7 Received a check for $378 from Barack Obama whose account had previously been written off as uncollectible 31 Use the following information for the year-end adjusting entry The balances of Accounts Receivable and Allowance for Doubtful Accounts at year-end are 5142.800 and $142 respectively, both with debit balances. It is estimated that bad debts will be 15% of accounts receivable Prepare the appropriate journal entries to record the above transaction during 2014. (Credit account titles are automatically Indented when the amount hentered. Do not indent manually.) Date Account Titles and Explanation Debit Credit May 20 Aut To record check previously been written off as uncollectible Date Account Titles and Explanation Debit Credit May 20 Aug. 7 To record check previously been written off as uncollectible) Aug. 7 (To record check received that is previously declared as uncollectible) Dec 31