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  3. 3. (6 points) the balance sheet of starsky company

3. (6 points) The balance sheet of Starsky Company at January 1, 2019, includes the...

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Accounting

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3. (6 points) The balance sheet of Starsky Company at January 1, 2019, includes the following. Accounts receivable 425,000 Less: Allowance for doubtful accounts (22,000) $403,000 Transactions in 2019 include the following. 1. Sales on credit for the year were $1,100,000. (all service revenue) 2. Accounts receivable of $895,000 were collected. 3. Customer accounts of $32,000 were written off during the year. 4. At year-end, bad debts were estimated to be 5% of the ending A/R balance (based on the % of A/R method). Make to update the A/R and Allowance balance for the transactions above before calculating bad debt expense. Prepare all journal entries necessary to reflect the transactions above. Accounts Debit Credit 1. Page 2. 3. 3 4 4

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