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Question: On December 31, 2016, when its Allowance for Doubtful Accounts had a debit balance of $1,400, Dallas Co. estimates that 9% of its accounts receivable balance of $90,000 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. On May 11, 2017, Dallas Co. determined that B. Jared's account was uncollectible and wrote off $1,200. On June 12, 2017, Jared paid the amount previously written off.

Instructions: Prepare the journal entries on December 31, 2016, May 11, 2017, and June 12, 2017.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92657002

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