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Question - Heather uses an allowance method for bad debts. On 01-01-18, Heather's allowance for doubtful accounts had a $35,000 balance. During 2018, Heather recorded (1) $64,000 of estimated bad debts expense, (2) $29,000 of write-offs, and (3) $1,500 of subsequent collections of ARs previously written off.
a. Prepare the entries for the three 2018 events that Heather recorded.
b. On the basis of the information given, as of year-end 12-31-18, what was the balance in Heather's allowance for doubtful accounts?
c. On the basis of the information given, for the year-end 12-31-18, what was Heather's bad debts expenses amount?
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