{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-06T08:24:06-04:00", "answer_date": "2024-06-06 08:24:06", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "2352214", "url": "\/study-help\/questions\/at-the-beginning-of-the-year-tennyson-auto-parts-had-2352214", "question_creation_date_js": "2024-06-06T08:24:06-04:00", "question_creation_date": "Jun 06, 2024 08:24 AM", "meta_title": "[Solved] At the beginning of the year, Tennyson Au | SolutionInn", "meta_description": "Answer of - At the beginning of the year, Tennyson Auto Parts had an accounts receivable balance of $31,800 and a balance in the a | SolutionInn", "meta_keywords": "beginning,year,tennyson,auto,parts,accounts,receivable,balance,$31,800,allowance,doubtful,$2,980", "question_title_h1": "At the beginning of the year, Tennyson Auto Parts had an accounts receivable balance of $31,800 and a balance in the allowance for doubtful accounts", "question_title": "At the beginning of the year, Tennyson Auto Parts had an accounts", "question_title_for_js_snippet": "At the beginning of the year, Tennyson Auto Parts had an accounts receivable balance of $31,800 and a balance in the allowance for doubtful accounts of $2,980 (credit) During the year, Tennyson had credit sales of $624,300, collected accounts receivable in the amount of $602,700, wrote off $18,600 of accounts receivable, and had the following data for accounts receivable at the end of the period Proportion Expected Accounts Receivable Age Amount to Default Current $20,400 0 01 1 15 days past due 5,300 0 02 16 45 days past due 3,100 0 08 46 90 days past due 3,600 0 15 Over 90 days past due 2,400 0 30 $34,800 Required 1 Determine the desired postadjustment balance in allowance for doubtful accounts 2 Determine the balance in allowance for doubtful accounts before the bad debt expense adjusting entry is posted 3 Compute bad debt expense G Accounts Receivable Age Amount Proportion Expected to Default Current $20,400 0 01 1 15 days past due 5,300 0 02 16 45 days past due 3,100 0 08 46 90 days past due 3,600 0 15 Over 90 days past due 2,400 0 30 $34,800 Required 1 Determine the desired postadjustment balance in allowance for doubtful accounts $ 2 Determine the balance in allowance for doubtful accounts before the bad debt expense adjusting entry is posted 3 Compute bad debt expense 4 Prepare the adjusting entry to record bad debt expense If an amount box does not require an entry, leave it blank (Record adiustinn entry for bad debt exnense estimate) 88", "question_description": "\"image\"image At the beginning of the year, Tennyson Auto Parts had an accounts receivable balance of $31,800 and a balance in the allowance for doubtful accounts of $2,980 (credit). During the year, Tennyson had credit sales of $624,300, collected accounts receivable in the amount of $602,700, wrote off $18,600 of accounts receivable, and had the following data for accounts receivable at the end of the period: Proportion Expected Accounts Receivable Age Amount to Default Current $20,400 0.01 1-15 days past due 5,300 0.02 16-45 days past due 3,100 0.08 46-90 days past due 3,600 0.15 Over 90 days past due 2,400 0.30. $34,800 Required: 1. Determine the desired postadjustment balance in allowance for doubtful accounts. 2. Determine the balance in allowance for doubtful accounts before the bad debt expense adjusting entry is posted. 3. Compute bad debt expense. G Accounts Receivable Age Amount Proportion Expected to Default Current $20,400 0.01 1-15 days past due 5,300 0.02 16-45 days past due 3,100 0.08 46-90 days past due 3,600 0.15 Over 90 days past due 2,400 0.30 $34,800 Required: 1. Determine the desired postadjustment balance in allowance for doubtful accounts. $ 2. Determine the balance in allowance for doubtful accounts before the bad debt expense adjusting entry is posted. 3. Compute bad debt expense. 4. Prepare the adjusting entry to record bad debt expense. If an amount box does not require an entry, leave it blank. (Record adiustinn entry for bad debt exnense estimate) 88", "transcribed_text": "", "related_book": { "title": "Managerial Accounting", "isbn": "978-0073526706, 9780073526706", "edition": "12th Edition", "authors": "Ray H. Garrison, Eric W. Noreen, Peter C. Brewer", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/104.jpg", "uri": "\/textbooks\/managerial-accounting-12th-edition-9780073526706", "see_more_uri": "" }, "free_related_book": { "isbn": "1119525071", "uri": "\/textbooks\/wiley-cia-exam-review-2019-part-1-essentials-of-internal-auditing-test-bank-focus-notes-text-set-1st-edition-978-1119525073-332865", "name": "Wiley Cia Exam Review 2019 Part 1 Essentials Of Internal Auditing Test Bank + Focus Notes + Text Set", "edition": "1st Edition" }, "question_posted": "2024-06-06 08:24:06", "see_more_questions_link": "\/study-help\/questions\/business-economics-2023-September-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/1-why-is-your-research-thus-far-inadequate-for-what", "description": "1. Why is your research thus far inadequate for what you need to know? 2. 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