Accounts receivable transactions are provided below for J Cullumber Co. Dec....
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Accounts receivable transactions are provided below for J Cullumber Co.
| Dec. 31, 2020 | The company estimated that 5% of its accounts receivable would become uncollectible. The balances in the Accounts Receivable account and Allowance for Doubtful Accounts were $664,000 and $2,400 (debit), respectively. | |
| Mar. 5, 2021 | The company determined that R. Mirzas $3,100 account and D. Wights $6,500 account were uncollectible. The companys accounts receivable were $697,600 before the accounts were written off. | |
| June 6, 2021 | Wight paid the amount that had been written off on March 5. The companys accounts receivable were $654,400 prior to recording the cash receipt for Wight |
Prepare the journal entries on December 31, 2020, March 5, 2021, and June 6, 2021
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