On December 31, 2021, Timberwolves Corporation had the following account balances related to credit sales and receivables prior to recording adjusting entries: \table[[Accounts receivable, 25,000), Allowance for doubtful accounts, 20 D], [Sales revenue (all credit sales),400,000]] credit balance REQUIRED: Prepare the necessary journal entries for each of the following independent assumptions: A An account was recognized as a had debt in July. Amount is $350 B At December 31 an aging of accounts receivable is completed. It is estimated that $2,150 of the receivables outstanding at year-end will be uncollectible. C Assume the same information presented in part 8. except that prior to adjustment, the allowance for doubtful accounts had a debit balance of $200 rather than a credit balance of $200. D At December 31 it is estimated that a provision for bad debts is required for 1% of credit sales for the year.
On December 31, 2021, Timberwolves Corporation had the following account balances related to credit sales and receivables prior to recording
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