Hecter company estimates uncollectible accounts using the

Reference no: EM13604120

Hecter Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of receivables analysis. Days Past Due Total 0 1 to 30 31 to 60 61 to 90 Over 90 Accounts receivable $190,000 $132,000 $30,000 $12,000 $6,000 $10,000 Percent uncollectible 1% 2% 4% 7% 12% Required: a. On February 1 of the next period, the company determined that $1,900 in customer accounts is uncollectible; specifically, $400 for Oxford Co. and $1,500 for Brookes Co. Prepare the journal entry to write off those accounts. b. On June 5 of that next period, the company unexpectedly received a $400 payment on a customer account, Oxford Company that had previously been written off in part

a. Prepare the entries necessary to reinstate the account and to record the cash received.

Reference no: EM13604120

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