On December 31, 2024, when its Allowance for Doubtful Accounts had a debit balance of $1,403, Blossom Co estimates that 9% of its accounts receivable balance of $94,500 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. On May 11, 2025, Blossom Co. determined that B. Jared's account was uncollectible and wrote off $1,179. On June 12, 2025, Jared paid the amount previously written off. Prepare the journal entries on December 31, 2024, May 11, 2025, and June 12, 2025. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry for the account titles and enter O for the amounts.) Date riber 31, 2024 : 1.2025 Account Titles and Explanation Bad Debt Expense Allowance for Doubtful Accounts Allowance for Doubtful Accounts Debit 10998 1179 Credit 100 10998

On December 31, 2024, when its Allowance for Doubtful Accounts had a debit balance of $1,403, Blossom Co estimates that 9% of its accounts receivable balance of $94,500 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. On May 11, 2025, Blossom Co. determined that B. Jared's account was uncollectible and wrote off $1,179. On June 12, 2025, Jared paid the amount previously written off. Prepare the journal entries on December 31, 2024, May 11, 2025, and June 12, 2025. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry for the account titles and enter O for the amounts.) Date riber 31, 2024 : 1.2025 Account Titles and Explanation Bad Debt Expense Allowance for Doubtful Accounts Allowance for Doubtful Accounts Debit 10998 1179 Credit 100 10998

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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