Present entries to record the following for a business that uses the Allowance Method: a. Record the adjusting entry at 12/31/19, the end of the fiscal year to provide for doubtful accounts. The accounts receivable account has a balance of $100,000 and the contra asset account, before adjustment has a debit balance of $700. Analysis of receivables indicates doubtful accounts of $4,500.
b. In March of the following fiscal year $610 owed by the Filthy Disgusting Yankees Inc was written off.
c. Six months later the $610 is reinstated and payment of that amount received