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Wheelys, Inc. designs and sells footwear with a wheel in the heel, worn by sometimes-annoying kids at shopping malls. It recently disclosed the following Information concerning the Allowance for Doubtful Accounts in its annual report SCHEDULE II Valuation and Qualifying Accounts (dollars in thousands) Allowance for Doubtful Accounts Balance at Beginning of Year Additions Charged to Bad Debt Expense Write- Offs Balance at End of Year 2017 2016 2015 $242 453 223 346 436 $ 86 557 ? $156 242 453 Required: 1 Complete the T-account for the Allowance for Doubtful Accounts by entering into it the 2017 amounts from the above schedule. (Enter your answers in thousands.) Allowance for Doubtful Accounts Beg. bal. End. bal. Complete the T-account in equation format given below to prove that the above items account for the changes in the account. (Enter your answers in thousands.) Beginning balance Bad Debt Expense Write Offs Ending Balance Record summary Journal entries for 2016 related to (a) estimating Bad Debt Expense and (b) writing off specific balances. (If no entry Is required for a transaction/event, select "No journal entry required" In the first account fleld. Enter your answers in thousands.) View transaction list Journal entry worksheet Record the estimate of Bad debt expenses for 2016. Note: Enter debits before credits. Taration Gonoral lournal Dobi Credit Supply the missing dollar amount for 2015. (Enter your answer thousands.) Allowance for Doubtful Accounts Balance at Beginning of Year + Additions Charged to Bad Debt Expense Write Offs = Balance at End of Year 2015 S 223 s 436 $ 453 If Wheelys had written off an additional $42 of Accounts Receivable during 2017 and the ending allowance balance was estimated to be $156 (dollars in thousands), will net receivables be affected? Yes No If Wheelys had written off an additional $42 of Accounts Receivable during 2017 and the ending allowance balance was estimated to be $156 (dollars in thousands), will the net Income be affected? O Yes O No

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