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Prepare the journal entries on December

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Question - On December 31, 2021, 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, 2022, Dallas Co. determined that B. Jared's account was uncollectible and wrote off $1,200. On June 12, 2022, Jared paid the amount previously written off.

Required - Prepare the journal entries on December 31, 2021, May 11, 2022, and June 12, 2022.

Reference no: EM133058121

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