Business, 25.10.2019 01:43 jessicad1198

Johnson company calculates its allowance for uncollectible accounts as 5% of its ending balance in gross accounts receivable. the allowance for uncollectible accounts had a credit balance of $30,000 at the beginning of 2021. no previously written-off accounts receivable were reinstated during 2021. at 12/31/2021, gross accounts receivable totaled $500,100, and prior to recording the adjusting entry to recognize bad debts expense for 2021, the allowance for uncollectible accounts had a debit balance of 55,000.

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