Entries for Bad Debt Expense Under the Direct Write-Off and Allowance Method

The following selected transactions were taken from the records of Silhouette Company for the year ending December 31, 2014:

Dec. 31   If necessary, record the year-end adjusting entry for the uncollectible accounts.

The company prepared the following aging schedule for its accounts receivable:

For those amount boxes in which no entry is required, leave the box blank. If an account is not required, select “No entry” from the dropdown box(es).

Mar. 4

Wrote off account of Myron Rimando, $7,260.

May 19

Received $5,150 as partial payment on the $13,000 account of Shirley Mason. Wrote off the remaining balance as uncollectible.

Aug. 7

Received the $7,260 from Myron Rimando, which had been written off on March 4. Reinstated the account and recorded the cash receipt.

Dec. 31

Wrote off the following accounts as uncollectible (record as one journal entry):