Grable Company uses the allowance method of estimating expenses from bad debts Grable Company considers estimated expenses to be 3 percent of Accounts Receivable On December 31, the Accounts Receivable balance was $ 63,000 and Allowance for Doubtful Accounts had a credit balance of $ 320 Journalize...

GENERAL JOURNAL PAGE POST DATE DE ...

Grable Company uses the allowance method of estimating expenses from bad debts. Grable Company considers estimated expenses

Question:

Grable Company uses the allowance method of estimating expenses from bad debts. Grable Company considers estimated expenses to be 3 percent of On December 31, the balance was $ 63,000 and Allowance for Doubtful Accounts had a credit balance of $ 320. Journalize the adjusting entry to record the estimated Bad Debts Expense.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...