Business, 01.07.2019 18:20 jcollings44
He allowance for bad debts account had a balance of $7,300 at the beginning of the year and $10,100 at the end of the year. during the year (including the year-end adjustment), bad debts expense of $13,400 was recognized. required: calculate the total amount of past-due accounts receivable that were written off as uncollectible during the year. (hint: make a t-account for the allowance for bad debts account, plug in the amounts that you know, and solve for the missing amount.)
Answers: 1
Business, 21.06.2019 19:20
The following selected amounts are reported on the year-end unadjusted trial balance report for a company that uses the percent of sales method to determine its bad debts expense. accounts receivable $ 435,000 debit allowance for doubtful accounts 1,250 debit net sales 2,100,000 credit all sales are made on credit. based on past experience, the company estimates 1.0% of credit sales to be uncollectible. what adjusting entry should the company make at the end of the current year to record its estimated bad debts expense
Answers: 2
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He allowance for bad debts account had a balance of $7,300 at the beginning of the year and $10,100...
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