Question
A trial balance before adjustments included the following:Debit Credit Sales $850,000 Sales returns and allowance $28,000 Accounts receivable86,000 Allowance for doubtful accounts 1,520 (A) If
A trial balance before adjustments included the following:Debit Credit
Sales $850,000
Sales returns and allowance $28,000
Accounts receivable86,000
Allowance for doubtful accounts 1,520
(A) If the estimate of uncollectibles is made by taking10%of Gross Account Receivables, theamountof the adjustment (bad debt expense) is ?
(B) Theamountof the adjustment (bad debt expense) is?If the Allowance for doubtful accounts has balance of debit $1,820 ?
(C) Please use the result of (A) to make the journal entry for recording estimated uncollectibles.
(D)An authorized write-off of the $1,000 balance owed by customer ABC. The entry to record the write-off are:
(E)Assume customer ABC pays $500 amount that had been written-off, the entry are
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