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Unformatted text preview: Allowance for Uncollectible Accounts and Bad Debt Expense 1/1/2008 12/31/2008 2008 $800,000 Credit Sales for all of 2008 Debit Credit Allowance for Uncollectible Accounts 1,000 Accounts Receivable 1,000 Write-off Ms. Mary Jone's account during 2008 Allowance for Uncollectible Accounts 3,500 Accounts Receivable 3,500 Write-off Mr. Bart Bad's account during 2008 Allowance for Uncollectible Accounts 2,000 Accounts Receivable 2,000 Write-off Mr. NotSo Bad's account during 2008 Accounts Receivable 2,000 Allowance for Uncollectible Accounts 2,000 Reinstate Mr. NotSo Bad's account during 2008 Cash 2,000 Accounts Receivable 2,000 Collect Cash from Mr. NotSo Bad Bad Debt Expense 6,500 Allowance for Doubtful Accounts 6,500 Adjustment made at 12/31/08 to adjust the Allowance to $8,000 based on an analysis of the A/R accounts at 12/31/08 100,000 Beginning Balance @ 01/01/08 800,000 Credit Sales for all of 2008 -- Journal Entries Not Shown 728,000 Cash Collections for all of 2008 -- Journal Entries Not Shown...
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- Spring '08
- Financial Accounting, Uncollectible Accounts, Mr. NotSo, Mr. NotSo Bad