On december 31 2006 crawford co. estimated that 1.5 of its, Ask an Expert

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On December 31, 2006, Crawford Co. estimated that 1.5% of its net sales of $400,000 will become uncollectible.The company recorded this amount as an addition to Allowance for Doubtful Accounts. On May 11, 2007, Crawford Co. determined that Kevin Hayes' account was uncollectible and wrote off $1,100. On June 12, 2007, Hayes' paid the amount previously written off.

Prepare the journal entries on December 31, 2006, May 11, 2007, and June 12, 2007.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9276543

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