Compute the actual amount of write-offs during 2012

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Reference no: EM131408497

The 2012 annual report of Johnson Services reveals the following information. The dollar amounts are end-of-year balances.

Johnson estimates bad debts each year at 2 percent of credit sales.

a. Compute the actual amount of write-offs during 2012.

b. Infer the journal entries that explain the activity in accounts receivable and the related allowance account during 2012.

Reference no: EM131408497

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