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Past experience indicates that 17% of total accounts receivable will eventually be uncollectible for Sheffield...

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Accounting

Past experience indicates that 17% of total accounts receivable will eventually be uncollectible for Sheffield Rental Company Selected general ledger account balances at December 31, 2023, and December 31, 2024, appear below

2023

$86.000

14620

2024

$107,500

Accounts Receivable

Allowance for Doubtful Accounts (credit)

(a)

Record the following events in 2024: 0f no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all defit entries before confit entries, Record journal entries in the order presented in the problem)

Aug 10 Determined that the account of Henry Hum for $2,700 is uncollectible.

Sep 12 Determined that the account of Mark Pippy for $4,300 is uncollectible.

Oct. 10 Received a cheque for $1,944 as payment on account from Henry Hum, whose account had previously been written off as uncollectible. He indicated the remainder of his account would be paid in November

Nov 15 Received a cheque for $756 from Henry Hum as payment on his account. WHAT IS THE BALANCE OF ALLOWANCE FOR DOUBTFUL ACCOUNTS AT DECEMBER 31,2024? BALANCE OF ALLOWANCE FOR DOUBTFUL ACCOUNTS AT DECEMBER 31,2024 IS.....

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