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On December 31, 2016, when its Allowance for Doubtful Accounts had a credit balance of...

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Accounting

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On December 31, 2016, when its Allowance for Doubtful Accounts had a credit balance of $1,500 Leeds Company estimates that 6% of its accounts receivable balance of $95,000 will become uncollectible. On March 3 2017, Leeds Company determined that Megan Jost's account of $950 was uncollectible. On May 15, 2017, Jost paid the amount previously written of Prepare the journal entries for December 31, 2016, March 3, 2017 and May 15, 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Dec. 31, 2016 Mar. 3, 2017 May 15 (To reinstate an account previously written off) May 15 (To record payment on account in full)

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