On December 31, 2020, Sunland Company estimated that 4% of its net accounts receivable of...
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On December 31, 2020, Sunland Company estimated that 4% of its net accounts receivable of $488,600 will become uncollectible. The company recorded this amount as an addition to Allowance for Doubtful Accounts. The allowance account had a zero balance before adjustment on December 31, 2020. On May 11, 2021, Sunland Company determined that the Jeff Shoemaker account was uncollectible and wrote off $2,443. On June 12, 2021, Shoemaker paid the amount previously written off. Prepare the journal entries on December 31, 2020, May 11, 2021, and June 12, 2021
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