Exercise Receivables, allowance for doubtful accounts, writeoff, and subsequent recovery LO
Outdoor Equipment OE sells camping equipment. On December the accounts receivable account had a balance of $ the bad debt expense account had a balance of $ and the allowance for doubtful accounts had a credit. balande of $ Journalize the remaining journal entries for the year.
Dec. Sold tents for $ on account with a cost of $
Determined that the total accounts of Rocky with an accounts receivable balance of $ and
Grouse Co with an accounts receivable balance of $ were uncollectible and needed to be written off.
Unexpectedly received payment from Grouse Co for $
Estimated that of accounts receivable recorded to date would be uncollectible.
Required:
Prepare journal entries to record the transactions. Note: Writeoff of uncollectible accounts for Rocky Co and Grouse Co should be posted separately.
Journal entry worksheet
