Problem 2: The following information pertains to Swift Company in 2019: April 1: Wrote off...
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Accounting
Problem 2: The following information pertains to Swift Company in 2019: April 1: Wrote off the account of the account of K. Perry, $820. June 1: Unexpectedly received a check from B. Eilish for $315. Eilishs account was written off in 2017. Dec. 31: Swifts 2019 net credit sales were $800,000. It is estimated that 6% of those sales will be uncollectible. Dec. 31: The balance in the Allowance for Bad Debt t-account showed a debit of $5,000 before adjustment. It is estimated that $49,000 will be uncollectible based on an aging analysis of the Accounts Receivable.
REQUIRED: Prepare the journal for each of the four date scenarios above.
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