University Travel experienced the following revenue and accounts receivable write offs.
|
Month |
Service Revenue |
January |
February |
March |
Total |
|
January |
$ 6,800 |
$53 |
105 |
$139 |
|
|
February |
7,000 |
$ 86 |
115 |
138 |
|
|
March |
7,500 |
$148 |
115 |
||
|
$21,300 |
$53 |
$191 |
$ 33 |
$392 |
University Travel estimates that 2% of revenues will become uncollectible. Journalize service revenue (all on account), bad debt expense, and write offs during March. Include explanations.