Strawberry corporation had a 10111 credit balance in the

Reference no: EM13601101

Strawberry Corporation had a 1/01/11 credit balance in the Allowance for Doubtful Accounts of $23,500. During 2011, it wrote off $29,700 of accounts and collected $4,500 on accounts previously written off. The balance in Accounts Receivable was $205,000 at 1/01/11 and $255,000 at 12/31/11. At 12/31/11, Strawberry estimates that 6% of accounts receivable will prove to be uncollectible.

Instructions: Prepare the journal entry to record the bad debt expense at December 31, 2011

Reference no: EM13601101

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