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The ledger of Kingbird, Inc. at the end of the current year shows Accounts Receivable...

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Accounting

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The ledger of Kingbird, Inc. at the end of the current year shows Accounts Receivable $80,600; Credit Sales $859,830; and Sales Returns and Allowances $37,000. (a) If Kingbird, Inc. uses the direct write-off method to account for uncollectible accounts, journalize the adjusting entry at December 31, assuming Kingbird, Inc. determines that Matisse's $877 balance is uncollectible. (b) If Allowance for Doubtful Accounts has a credit balance of $1,069 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 10% of accounts receivable. (C) If Allowance for Doubtful Accounts has a debit balance of $500 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 8% of accounts receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (a) Bad Debt Expense 877 Accounts Receivable 877 Ix (b) | Allowance for Doubtful Accounts 1058.31 x x Accounts Receivable 1058.31 (c) Bad Debt Expense 460 xl Allowance for Doubtful Accounts 460

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