Allowance Method: Jamison Company uses the allowance method of accounting for bad debt expense. The...
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Allowance Method: Jamison Company uses the allowance method of accounting for bad debt expense. The company had the following transactions involving uncollectible accounts receivable. During 2016:Made credit sales to customers of $100,000. Dec. 31, 2016: Estimated bad debt expense for 2016 to be S15,000. Record AJE. June 30, 2017 John Smith filed bankruptcy, therefore, his accounts receivable balance of $800 was written off, because it was deemed uncollectible. Nov, 1, 2017 John Smith paid S500 toward his accounts receivable balance that was written off. During 2017:Made credit sales to customers of $110,000 Dec. 31, 2017 Estimated bad debt expense for 2017 to be $16,500. Date Account Description Credit
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