XXX Hospital has $100,000 of accounts receivable at December 31, 20X1. It is estimated that...
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Accounting
XXX Hospital has $100,000 of accounts receivable at December 31, 20X1. It is estimated that 9% of these accounts will eventually prove to be bad debts and, therefore, uncollectible. During 20X2, $8,300 of the 20X1 accounts receivable are written off as bad debts.
Required: Make general journal entries to record (1) the estimated bad debts at December 31, 20X1, and (2) the write-off of bad accounts during 20X2.
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