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assume the beginning balance on Janurary 1, 2022 in the allowance for doubtful accounts is $15,000. If an aging schedule shows $30,000, to be uncollectible,
assume the beginning balance on Janurary 1, 2022 in the allowance for doubtful accounts is $15,000. If an aging schedule shows $30,000, to be uncollectible, then the adjusting entry on December 31, 2022 to record bad debts for the period would include:
answer choices:
a credit to accounts receivable for $16,000
a credit to allowance for doubtful accounts for $38,000
a debt to bad debt expense for $2,000
a debt to bad expense for $15,000 (THIS IS THE WRONG ANSWER)
a credit to allowance for doubtful accounts for $28,000
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