Question
15.Before year end adjusting entries, Accounts Receivable had a $215,000 balance. The Allowance for Doubtful Accounts had $4,700 debit balance. Based on % of receivables,
15.Before year end adjusting entries, Accounts Receivable had a $215,000 balance. The Allowance for Doubtful Accounts had $4,700 debit balance. Based on % of receivables, $28,500 of year-end receivables are estimated to be uncollectible. After the year end adjusting entry for bad debt expense, what are the balances in the following accounts?
Select one:
a.Bad Debt Expense, $23,800 and Allowance for Doubtful Accounts, $33,200
b.Bad Debt Expense, $33,200 and Allowance for Doubtful Accounts, $28,500
c.Bad Debt Expense, $20,900 and Allowance for Doubtful Accounts, $28,500
d.Bad Debt Expense, $23,800 and Allowance for Doubtful Accounts, $23,800
e.Bad Debt Expense, $33,200 and Allowance for Doubtful Accounts, $33,200
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