Problem

KLA Corp. had the following situations during the last 4 years of operation:

i. The Allowance for Uncollectible Accounts has a $1,400 credit balance prior to adjustment. Net credit sales during 2011 are $700,000 and 4% are estimated to be uncollectible. Accounts Receivable has a balance of $110,000 on Dec 31, 2011.

ii. The Allowance for Uncollectible Accounts has a $750 debit balance prior to adjustment. Based on an aging schedule of accounts receivable prepared on December 31, 2012, $27,900 of accounts receivable are estimated to be uncollectible. Accounts Receivable has a balance of $114,000 on Dec 31, 2012.

iii. The Allowance for Uncollectible Accounts has a $1,300 credit balance prior to adjustment. Based on an aging schedule of accounts receivable prepared on December 31, 2013, $25,000 of accounts receivable are estimated to be uncollectible. Accounts Receivable has a balance of $107,000 on Dec 31, 2013.

iv. The Allowance for Uncollectible Accounts has a $500 debit balance prior to adjustment. Net credit sales during 2014 are $875,000 and 2% are estimated to be uncollectible. Accounts Receivable has a balance of $125,000 on Dec 31, 2014.

Prepare the adjusting journal entries needed for these years.