Journal entries?

Question

Does anyone know the journal entries for these two problems?

1) At December 31, 07, Braddock company had a balance of $15,000 in the allowance for doubtful accounts. During 2008, Braddock wrote off accounts totaling $13,000. One of those accounts ($1,800) was later collected. At December 31, 2008, an aging scedule indicated that the balance in the allowance for doubtful accounts should be $19,000. Prepare journal entries to record the 2008 transactions of Broddock company.

2)On December 31, 2008, Jarnigan Co. estimated 2% of it's net sales of $400,000 will become uncollectible. The company recorded this amount as an addition to allowance for doubtful accounts. On May 11, 2009, Jarnigan Co. determined that Terry Freye's account was uncollectible and wrote off $1,100. On June 12, 2009, Frye paid the amount previously written off. Prepare the journal entries on December 31, 2008, May 11, 2009, and June 12, 2009.

Answer 1

try this answer -

Allowance for Doubtful Accounts   13,000

     Accounts Receivable                                13,000

je for the write off of accounts

Accounts Receivable                   1100

      Allowance for Doubtful Accts                      1,100

je for the write on of accounts wriitten off collected

Cash                                            1100

      Accounts Receivable                      1100

je to collect cash from accounts written off now collected

The balance in the allowance account is now 15,000 - 13,000 + 1,100 =  3100.  The aging says 19,000  so we need an adjustment of 19000-3100 = 15,900

Bad Debt Expense   15,900

    Allowance for Doubtful Accounts 15,900

#2 - They are using the % of sales method so

Bad Debt Expense                    8000

   Allowance for doubtful Accounts     8000

that is 2% of 400,000 for the estimate of bad debts

Allowance for Doubtful Accounts     1,100

        Accounts Receivable                       1,100

to write off the A/R

Accounts Receivable            1,100

     Allowance for Doubtful Accounts     1,100

to put the account back on

Cash                                      1,100

     Accounts Receivable                  1,100

the customer paid the account

Answer 2

is that your home work