Question
As at 30 March 2020 , the accounts receivable balance is $10,000. The allowance for doubtful account balance is $100(credit balance). The management determined to
As at 30 March 2020 , the accounts receivable balance is $10,000. The allowance for doubtful account balance is $100(credit balance).
The management determined to write off an accounts receivable of $400 and accounting entries (following IFRS) were recorded on 30 March 2020.
At 31 March 2020. The management estimated that 7% of the outstanding accounts receivable balance is uncollectible. The adjusting entries for bad debt expense to be prepared on 31 March 2020 is $____________.
(Assumption: the company prepares the financial statements on an annual basis)
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Management Accounting And Control Systems An Organizational And Sociological Approach
Authors: Norman B. Macintosh, Paolo Quattrone
2nd Edition
0470714476, 978-0470714478
