Carol Simon, the manager of Handy Plumbing has provided the following aging schedule for Handy's accounts receivable:
Question:
Carol Simon, the manager of Handy Plumbing has provided the following aging schedule for Handy's accounts receivable:
Required:
1. Journalize the $9,400 write-off.
2. Determine the desired post-adjustment balance in allowance for doubtful accounts.
3. If the balance in allowance for doubtful accounts before the $9,400 write-off was a debit of $550, compute bad debt expense. Prepare the adjusting entry to record bad debt expense?
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