5. Assume that the adjusting entry in (4) was inadvertently omitted, how would the omission affect the balance sheet and income statement?

On the balance sheet, assets would be _______ by _______ because the allowance for doubtful accounts would be by _________ . In addition, the owners capital account would be _______ by _______ because bad debt expense would be _______ and net income _______ by ________ on the income statement.

4. Assume that the allowance for doubtful accounts for Trophy Fish Company has a debit balance of $4,800 before adjustment on December 31, 2015. Journalize the adjusting entry for uncollectible accounts. Refer to the chart of accounts for a listing of the account titles the company uses.

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JOURNAL

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT
1
2