I have entered every answer for Dec 31, and it keeps telling me i am wrong. Can you help me solve?On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1,315, Wildhorse Co. estimates that 11% of its accounts receivable balance of $107,400 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. On May 11, 2022, Wildhorse Co. determined that B. Jared’s account was uncollectible and wrote off $1,207. On June 12, 2022, Jared paid the amount previously written off.Prepare the journal entries on December 31, 2021, May 11, 2022, and June 12, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)DateAccount Titles and ExplanationDebitCreditChoose a transaction date December 31, 2021May 11, 2022June 12, 2022Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount Choose a transaction date December 31, 2021May 11, 2022June 12, 2022Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount Choose a transaction date December 31, 2021May 11, 2022June 12, 2022Enter an account title to reinstate account previously written off Enter a debit amount Enter a credit amount Enter an account title to reinstate account previously written off Enter a debit amount Enter a credit amount (To reinstate account previously written off) Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount

The corporation while making credit sales assumed some portion of the due accounts remains…

Answered: On December 31, 2021, when its…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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I have entered every answer for Dec 31, and it keeps telling me i am wrong. Can you help me solve?On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1,315, Wildhorse Co. estimates that 11% of its accounts receivable balance of $107,400 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. On May 11, 2022, Wildhorse Co. determined that B. Jared’s account was uncollectible and wrote off $1,207. On June 12, 2022, Jared paid the amount previously written off.

Prepare the journal entries on December 31, 2021, May 11, 2022, and June 12, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Date	Account Titles and Explanation	Debit	Credit
Choose a transaction date December 31, 2021May 11, 2022June 12, 2022	Enter an account title	Enter a debit amount	Enter a credit amount
	Enter an account title	Enter a debit amount	Enter a credit amount
Choose a transaction date December 31, 2021May 11, 2022June 12, 2022	Enter an account title	Enter a debit amount	Enter a credit amount
	Enter an account title	Enter a debit amount	Enter a credit amount
Choose a transaction date December 31, 2021May 11, 2022June 12, 2022	Enter an account title to reinstate account previously written off	Enter a debit amount	Enter a credit amount
	Enter an account title to reinstate account previously written off	Enter a debit amount	Enter a credit amount
	(To reinstate account previously written off)
	Enter an account title	Enter a debit amount	Enter a credit amount
	Enter an account title	Enter a debit amount	Enter a credit amount

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