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Assuming that the books have not been closed for 2020, make the necessary correcting entries. P7.5B (LO 5) (Bad-Debt Reporting) Presented below is information related

Assuming that the books have not been closed for 2020, make the necessary correcting entries.

image text in transcribed P7.5B (LO 5) (Bad-Debt Reporting) Presented below is information related to the Accounts Receivable accounts of Tans Inc. during the current year 2020. 1. An aging schedule of the accounts receivable as of December 31,2020 , is as follows: The $4,600 write-off of receivables is related to the 91 -to- 120 day category. 2. The Accounts Receivable control account has a debit balance of $466,750 on December 31, 2020 . 3. Two entries were made in the Bad Debt Expense account during the year: (1) a debit on December 31 for the amount credited to Allowance for Doubtful Accounts, and (2) a credit for $4,600 on November 3, 2020, and a debit to Allowance for Doubtful Accounts because of a bankruptcy. 4. Allowance for Doubtful Accounts is as follows for 2020

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