Done a edugenwileypluscomC Exercise 86 On December 31 2017 L

Done a edugen.wileyplus.comC Exercise 8-6 On December 31, 2017, Ling , estimated that 2% of its net sales at $449,800 will become uncollectible. The company recorded this amount as an addition to Alliomance for Doubtful Accounts On May 11, 2018, Ling Co. determined that the Jeff Shoemaker account was uncollectible and wrote of $2,249. On June 12, 2018, Shoemakber paid the amount previously written o Prepare the journal entries on December 31, 2017, May 11, 2018, and Jue 12, 2018. (Credit account titles are tomatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.J

Solution

31-Dec-17 Bad debt expense 8996 (449800*2%)              Allowance for doubtful accounts 8996 11-May-18 Allowance for doubtful accounts 2249               Accounts receivable 2249 12 June 2018 Accounts receivable 2249              Allowance for doubtful accounts 2249 12-Jun-18 Cash 2249               Accounts receivable 2249