At December 31, 2019, Blue Spruce Corp. Company had a credit balance of $17,000 in Allowance for Doubtful Accounts. During 2020, Blue Spruce Corp. wrote off accounts totaling $13,400. One of those accounts ($2,700) was later collected. At December 31, 2020, an aging schedule indicated that the balance in Allowance for Doubtful Accounts should be $28,800. Prepare journal entries to record the 2020 transactions of Blue Spruce Corp. Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit enter an account title to record amount written off enter a debit amount enter a credit amount enter an account title to record amount written off enter a debit amount enter a credit amount (To record amount written off)     enter an account title to reverse write-off enter a debit amount enter a credit amount enter an account title to reverse write-off enter a debit amount enter a credit amount (To reverse write-off)     enter an account title to record collection of writeoff enter a debit amount enter a credit amount enter an account title to record collection of writeoff enter a debit amount enter a credit amount (To record collection of write-off)     enter an account title to record estimated bad debts for the year enter a debit amount enter a credit amount enter an account title to record estimated bad debts for the year enter a debit amount enter a credit amount (To record estimated bad debts for the year)

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 12E: Inferring Accounts Receivable Amounts At the end of 2019, Karras Inc. had a debit balance of 141,120...
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At December 31, 2019, Blue Spruce Corp. Company had a credit balance of $17,000 in Allowance for Doubtful Accounts. During 2020, Blue Spruce Corp. wrote off accounts totaling $13,400. One of those accounts ($2,700) was later collected. At December 31, 2020, an aging schedule indicated that the balance in Allowance for Doubtful Accounts should be $28,800.

Prepare journal entries to record the 2020 transactions of Blue Spruce Corp. Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation
Debit
Credit
enter an account title to record amount written off
enter a debit amount
enter a credit amount
enter an account title to record amount written off
enter a debit amount
enter a credit amount
(To record amount written off)
   
enter an account title to reverse write-off
enter a debit amount
enter a credit amount
enter an account title to reverse write-off
enter a debit amount
enter a credit amount
(To reverse write-off)
   
enter an account title to record collection of writeoff
enter a debit amount
enter a credit amount
enter an account title to record collection of writeoff
enter a debit amount
enter a credit amount
(To record collection of write-off)
   
enter an account title to record estimated bad debts for the year
enter a debit amount
enter a credit amount
enter an account title to record estimated bad debts for the year
enter a debit amount
enter a credit amount
(To record estimated bad debts for the year)
 

 

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