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Exercise 8-8 Receivables, allowance for doubtful accounts, write-off, and subsequent recovery LO1,2,3 Outdoor...

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Accounting

Exercise 8-8 Receivables, allowance for doubtful accounts, write-off, and subsequent recovery LO1,2,3
Outdoor Equipment (OE) sells camping equipment. On December 1, the accounts receivable account had a balance of $51,800, the bad debt expense account had a balance of $0, and the allowance for doubtful accounts had a credit. balande of $5,180. Journalize the remaining journal entries for the 2023 year.
Dec. 2 Sold tents for $5,360 on account with a cost of $2,680.
Determined that the total accounts of Rocky 0. with an accounts receivable balance of $1,380 and
20 Grouse Co. with an accounts receivable balance of $2,680 were uncollectible and needed to be written off.
23 Unexpectedly received payment from Grouse Co. for $2,680.
31 Estimated that 10% of accounts receivable recorded to date would be uncollectible.
Required:
Prepare journal entries to record the transactions. Note: Write-off of uncollectible accounts for Rocky Co. and Grouse Co. should be posted separately.
Journal entry worksheet
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