Prepare the necessary journal entry on december

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Hudson, Inc. had a $920 credit balance in the Allowance for Doubtful Accounts at 12/31/18 before the journal entry was made to record Bad Debt Expense. An aging of the accounts receivable revealed the following:

Estimated % Uncollectible Current Accounts

$520,000 1%

1-30 Days Past Due 71,000 3%

31-60 Days Past Due 37,000 6%

61-90 Days Past Due 24,000 12%

Over 90 Days Past Due 8,000 30%

Total Accounts Receivable $660,000

Question 1: Prepare the necessary journal entry on December 31, 2018 to record Bad Debt Expense.

Question 2: On March 31, 2019, management authorized the write-off of the J. Barnes account for $1,062. Prepare the necessary journal entry.

Reference no: EM132694780

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