Business, 06.05.2020 21:00 black4sureg

On December 31, 2019, Sheridan Company estimated that 2% of its net accounts receivable of $484,000 will become uncollectible. The company recorded this amount as an addition to Allowance for Doubtful Accounts. The allowance account had a zero balance before adjustment on December 31, 2019. On May 11, 2020, Sheridan Company determined that the Jeff Shoemaker account was uncollectible and wrote off $2,420. On June 12, 202, Shoemaker paid the amount previously written off.

Prepare the journal entries on December 31, 2019, May 11, 2020, and June 12, 2020.

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On December 31, 2019, Sheridan Company estimated that 2% of its net accounts receivable of $484,000...

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