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1) allowance for doubtful accounts has a debit balance of $759 at the end of the year (before adjustment), and an analysis of accounts in
1) allowance for doubtful accounts has a debit balance of $759 at the end of the year (before adjustment), and an analysis of accounts in the customers ledger indicates uncollectible recieveables of $15,761. Which of the following entries records the proper adjusting entry for bad debt expense?
(select and answer)
a. debit bad debt expense $759 credit allowance for doubtful accounts $759
b. debit bad debt expense $ 16520 credit allowance for doubtful accounts $16520
c. debit bad debt expense $15002 credit allowance for doibtful accounts $15002
d. debit allowance for doubtful accounts, $15761 credit bad debt expense $15761
2) allowance for doubtful accounts has a credit balance of $583 at the end of the year (before adjustment), and a bad debt expense is estimated at 3% of sales. if sales are $567400, the ammount of the adjusting entry to record the estimated uncollectable accounts recievable is:
a. $17605
b. $16439
c.$583
d. $ 17022
3) at the end of the current year, accounts recievable has a current balance if $550000; allowance for doubtful accounts has a credit of $5500 and sales for the year total $2500000. an analysis of recievables estimates uncollectible recievables as $25000. determine the ammount of the adjusting entry for bad debt expense and the adjusted balance of allowance for doubtful accounts. (select)
a $19500 and $25000
b. $19500 and $525000
c. $30500 and $525000
d $30500 and $25000
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