Recording Bad Debts and Interpreting Disclosure of Allowance for Doubtful Accounts – Peet’s Coffee & Tea, Inc., is a specialty coffee roaster and marketer of branded fresh roasted whole bean coffee. It recently disclosed the following information concerning the Allowance for Doubtful Accounts on its Form 10-K Annual Report submitted to the Securities and Exchange Commission. A summary of the Allowance for Doubtful Accounts is as follows (dollars in thousands):
| Allowance for Doubtful Accounts Don't use plagiarized sources. Get Your Custom Essay on supply the missing dollar amounts noted by for year 1 and year 2 555572 For $10/Page 0nly | Balance at Beginning of Period | Additions Charges) to Expense | Write-Offs | Balance at End of Period |
| Year 1 | $89 | $ ? | $1 | $145 |
| Year 2 | 145 | — | ? | 67 |
| Year 3 | 67 | 7 | 2 | 72 |
Required:
1. Record summary journal entries related to bad debts for year 3.
2. Supply the missing dollar amounts noted by (?) for year 1 and year 2.
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