Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

At December 31, 2010, Braddock Company had a balance of $15,090 in the Allowance for Doubtful Accounts. During 2011, Braddock wrote off accounts totaling $12,630.

At December 31, 2010, Braddock Company had a balance of $15,090 in the Allowance for Doubtful Accounts. During 2011, Braddock wrote off accounts totaling $12,630. One of those accounts ($1,660) was later collected. At December 31, 2011, an aging schedule indicated that the balance in the Allowance for Doubtful Accounts should be $18,850. Prepare journal entries to record the 2011 transactions of Braddock Company. Account/Description Debit Credit Allowance for doubtful accounts 12630 Accounts receivable 12630 (To record amount written off.) Accounts receivable 1660 Allowance for doubtful accounts 1660 (To reverse write-off.) Cash 1660 Accounts receivable 1660 (To record collection of amount written off.) Bad debts expense Allowance for doubtful accounts (To record estimated bad debts for year.) find bad debt expense and allowance for doubtful accounts amounts to record estimated bad debts for the year

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions