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During the year ended December 31, 2015, Kelly's Camera Shop had sales revenue of $180,000,...

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Accounting

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During the year ended December 31, 2015, Kelly's Camera Shop had sales revenue of $180,000, of which $90,000 was on credit. At the start of 2015, Accounts Receivable showed a $12,000 debit balance and the Allowance for Doubtful Accounts showed a $620 credit balance. Collections of accounts receivable during 2015 amounted to $70,000. Data during 2015 follow: a. On December 10, a customer balance of $1,600 from a prior year was determined to be uncollectible, so it was written off b. On December 31, a decision was made to continue the accounting policy of basing estimated bad debt losses on 2 percent of credit sales for the year Required: 1. Give the required journal entries for the two events in December. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 Record the write-off of a certain customer account from a prior year which is not collectible totaling $1,600. Note: Enter debits before credits. Date General Journal Debit Credit Dec. 10, 2015

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