Question
At December 31, 2019 Amr Co. has accounts receivable balance $400,000. Amr Co. estimates that 5%...
At December 31, 2019 Amr Co. has accounts receivable balance $400,000. Amr Co. estimates that 5% of these receivables will prove uncollectible.
On April 1, 2020, Amr Co. write-off of the $500 balance owed by Nezar Co.
On June 1, 2020 Nezar Co. pays the $500 amount that Sami Co. had written off on March 1.
Prepare the journal entries and the ledger account for Accounts receivables and Allowance for doubtful accounts
|
Date |
Debit |
Credit |
|
Accounts receivable
Allowance for Doubtful Accounts
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