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.)
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
|
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
|
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
