At december 31 of the current year a company reported the

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Reference no: EM13605401

At December 31 of the current year, a company reported the following: total sales for the current year: $880,000. Accounts receivable balance at December 31, end of current year: $210,000 Allowance for Doubtful Accounts balance at Dec. 31: 1,500 credit

1. Prepare the necessary adjusting entries to record bad debts expense assuming this company's bad debts are estimated to equal:

A) 1.5% of credit sales.

B) 5%of accounts receivable.

2.prepare the necessary entry to write off J. Mohr's $300 A/R balance.

3.prepare the necessary entries to record the recovery of J. Mohr's A/R balance when he pays the company at later date.

Reference no: EM13605401

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