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utdoor Equipment (OE) sells camping equipment. On December 1, the accounts receivable account had a...

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Accounting

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utdoor Equipment (OE) sells camping equipment. On December 1, the accounts receivable account had a balance of $51,400, the bad debt expense account had a balance of $0, and the allowance for doubtful accounts had a credit balance of $5,140. Journalize the remaining journal entries for the 2023 year.

Dec. 2 Sold tents for $5,280 on account with a cost of $2,640.
20 Determined that the total accounts of Rocky Co. with an accounts receivable balance of $1,340 and Grouse Co. with an accounts receivable balance of $2,640 were uncollectible and needed to be written off.
23 Unexpectedly received payment from Grouse Co. for $2,640.
31 Estimated that 10% of accounts receivable recorded to date would be uncollectible.

Required: 1. Prepare journal entries to record the transactions. Note: Write-off of uncollectible accounts for Rocky Co. and Grouse Co. should be posted separately.

Prepare Journal worksheets

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2. Post the T-account for accounts receivable, bad debt expense, and allowance for doubtful accounts. Determine the ending balance for each account

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