Question: Applying the direct write-off method to account for uncollectibles Susan Knoll is an attorney in Los Angeles. Knoll uses the direct write-off method to account for uncollectible receivables. At January 31, 2016, Knoll's accounts receivable totaled $18,000. During February, she earned revenue of $21,000 on account and collected $23,000 on account. She also wrote off uncollectible receivables of $1,050 on February 29, 2016.
Requirements: 1. Use the direct write-off method to journalize Knoll's write-off of the uncollectible receivables.
2. What is Knoll's balance of Accounts Receivable at February 29, 2016?