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Post the adjusting entry for bad debts at December 31, 2008. Journalize and post to the allowance account the following events and transactions in...
Post the adjusting entry for bad debts at December 31, 2008. Journalize and post to the allowance account the following events and transactions in the year 2009. (If answer is zero, please enter 0, do not leave any fields blank.)On March 31, a $1,000 customer balance originating in 2008 is judged uncollectible. On May 31, a check for $1,000 is received from the customer whose account was written off as uncollectible on March 31. Date Description Debit Credit 1,000 1,000 1,000 Bad Debts ExpenseDate Explanation Ref. Debit Credit Balance30,610 0 30,610 Allowance for Doubtful AccountsDate Explanation Ref. Debit Credit Balance
