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Assume the following information for Kingbird Corp. $135,000 Accounts receivable (beginning balance) Allowance for doubtful accounts (beginning balance) 11,300 Net credit sales 930,000 900,000 Collections
Assume the following information for Kingbird Corp. $135,000 Accounts receivable (beginning balance) Allowance for doubtful accounts (beginning balance) 11,300 Net credit sales 930,000 900,000 Collections Write-offs of accounts receivable Collections of accounts previously written off 5,000 1,600 Uncollectible accounts are expected to be 6% of the ending balance in accounts receivable. (d) d Your answer is correct Determine the ending balance in Accounts Receivable and the unadjusted balance in Allowance for Doubtful Accounts. Ending balance in Accounts Receivable 160000 Unadjusted balance in Allowance for Doubtful Accounts $ 7900 e Textbook and Media List of Accounts Attempts: 1 of 5 used Prepare the entry to record bad debt expense for the period. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Bad Debt Expense 14400 Allowance for Doubtful Accounts 14400
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