At December 31, JV Co reported accounts receivable of $89,600 and an allowance for uncollectible accounts of $1,270 (credit). An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 6% of accounts receivable.

1. Estimate the amount of uncollectible receivables:

2. When recording the adjusting entry for bad debt expense how much should Allowance for Uncollectible accounts be credited?

3. On January 10, a customer’s account balance of $1,000 is written off as uncollectible. Record the write-off.

Account to be debited =

a. sales returns and allowences

b. accounts receivable

c.bad debt expense

d. allowence for uncollectible accounts

e. cash

f. accounts payable

Account to be credited =

a. sales returns and allowences

b. accounts receivable

c.bad debt expense

d. allowence for uncollectible accounts

e. cash

f. accounts payable

4. If Net Accounts receivable were $77,200 before the write-off, how much are Net Accounts receivable AFTER the write-off?