Answer:
December 31, 2024:
To record the adjustment to the Allowance for Doubtful Accounts, we will debit Bad Debt Expense and credit Allowance for Doubtful Accounts.
Bad Debt Expense (debit) $8,547.00
Allowance for Doubtful Accounts (credit) $8,547.00
May 11, 2025:
To write off B. Jared's account as uncollectible, we will debit Allowance for Doubtful Accounts and credit Accounts Receivable.
Allowance for Doubtful Accounts (debit) $1,139.00
Accounts Receivable (credit) $1,139.00
June 12, 2025:
To record the payment received from B. Jared, we will debit Accounts Receivable and credit Allowance for Doubtful Accounts.
Accounts Receivable (debit) $1,139.00
Allowance for Doubtful Accounts (credit) $1,139.00
Please note that the amounts used in the journal entries are based on the given information.