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Business · Accounting
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Jet Klothing Designs started the current year with the following account balances related to its customer accounts. (Click the icon to view the t-accounts.) Jet reported credit sales of $1,213,000 for the current year. The company collected $51,000 on account and determined that a $37,000 account due from Backes Company was uncollectible. Read the requirements. Requirement a. Prepare the joumal entry to record credit sales for the current year. Ignore the effects on cost of goods sold and inventory. (Record debits first, then credits. Exclude explanations from any journal entries. Exclude explanations from any journal entries. Check your spelling caretully and do not abbrevlate. When applicable, use only the account names provided in the t-accounts.) Account Current Year Requirement b. Prepare the joumal entry to record the cash collections for the year. Account Current Year Requirement c. Prepare the joumal entry to write-off the Backes Company account. Account Current YearRequirement d.Prepare the journal entry to record the current​ year's provision for bad​ debts, assuming that Jet estimates bad debts at 14% of ending accounts receivable.

Accounts Receivable

Beginning Balance $580,000

Allowance for uncollectible accounts

$143000 Beginning Balance


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