Question
before adjustment 29.At December 31, 2022, the trial balance of Molina Company contained the following Accounts Receivable Allowance for Doubtful Accounts Debit $168,000 Credit $700
before adjustment
29.At December 31, 2022, the trial balance of Molina Company contained the following
Accounts Receivable
Allowance for Doubtful Accounts
Debit
$168,000
Credit
$700
(a)
Prepare the adjusting entry to record bad debt expense assuming that the aging schedule indicates that $6,000 of accounts receivable will be uncollectible.
b)
Repeat the a) assuming that instead of a credit balance, there is a $700 debit balance in
Allowance for Doubtful Accounts
c)
During the next month, January 2023, a $200 account receivable is written off as uncollectible. Prepare the journal entry to record the write-off.
before adjustment
29.At December 31, 2022, the trial balance of Molina Company contained the following
Accounts Receivable
Allowance for Doubtful Accounts
Debit
$168,000
Credit
$700
(a)
Prepare the adjusting entry to record bad debt expense assuming that the aging schedule indicates that $6,000 of accounts receivable will be uncollectible.
b)
Repeat the a) assuming that instead of a credit balance, there is a $700 debit balance in
Allowance for Doubtful Accounts
c)
During the next month, January 2023, a $200 account receivable is written off as uncollectible. Prepare the journal entry to record the write-off.
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