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Percentage of Credit Sales Roeker Company provides information systems consultation services to tarye companies in...

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Accounting

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Percentage of Credit Sales Roeker Company provides information systems consultation services to tarye companies in the Chicagoland area. Due to a dip in the economy, Rorker has increased the percentage of credit sales which it believes will be uncollectible from 0.0% to 3.2% for the year. Roeker's consulting services provided revenues of $700,000 in 2023. During 2024, Roeker has write-offs of $750 related to goods purchased in 2023. Prior to the write-off for the $750 default, Rocker's accounts receivable and allowance for doubtful accounts balances were 5480,000 and $232 (credit), respectively Required: 1. Prepare the journal entry to record the defaulted account. If an amount box does not require an entry, leave it blank. 88 (Record write-off of defaulted account) 2. Prepare the adjusting entry to record the bad debe expense for 2023. an amount bow does not require an entry, leave it blank. 88 (Record adjusting entry for bad debt expense estimate)

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