Entries Related to Uncollectible Accounts
The following transactions were completed by The Wild Trout Gallery during the current fiscal year ended December :
Jan. Reinstated the account of Arlene Gurley, which had been written off in the preceding year as uncollectible. Journalized the receipt of $ cash in full payment of Arlenes account.
Apr. Wrote off the $ balance owed by Premier GS Co which is bankrupt.
July Received of the $ balance owed by Hayden Co a bankrupt business, and wrote off the remainder as uncollectible.
Nov. Reinstated the account of Harry Carr, which had been written off two years earlier as uncollectible. Recorded the receipt of $ cash in full payment.
Dec. Wrote off the following accounts as uncollectible one entry: Cavey Co $; Fogle Co $; Lake Furniture, $; Melinda Shryer, $
Based on an analysis of the $ of accounts receivable, it was estimated that $ will be uncollectible. Journalized the adjusting entry.
