Callaway Golf Company sells on account to golf pro shops and general sporting goods retailers. In its financial statements for the year ended December 31, 2015, Callaway reported the following balances and changes in the Allowance for Doubtful Accounts (in thousands): Balance at Beginning of Period $4,500 Charged to Bad Debt Expense $690 Amounts Written Off $1,210 Balance at End of Period $3,980 Required: 1-a. Create a T-account for the Allowance for Doubtful Accounts and enter into it the amounts from the above schedule. TIP: The allowance increases when estimates are charged to Bad Debt Expense and when recoveries are reported. The allowance decreases when accounts are written off. 1-b. Write the T-account in equation format to prove that the above items account for the changes in the account. 2. Record summary journal entries related to (a) estimating bad debt expense and (b) write-offs of specific balances during the year. 3-a. If Callaway had written off an additional $210 (thousand) of accounts receivable during the period, by how much would Net Receivables have decreased? (amounts are in thousands) 3-b. If Callaway had written off an additional $210 (thousand) of accounts receivable during the period, how much would Net Income have decreased? (amounts are in thousands) Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 Req Req 3B Create a T-account for the Allowance for Doubtful Accounts and enter into it the amounts from the above schedule. TIP: The allowance increases when estimates are charged to Bad Debt Expense and when recoveries are reported. The allowance decreases when accounts are written off. (Enter your answers in thousands. The balance at the beginning of the year in the Allowance for Doubtful Accounts is a credit balance.) Show less Allowance for Doubtful Accounts Beg. Bal. End. Bal. Req 1A Req 1B > Callaway Golf Company sells on account to golf pro shops and general sporting goods retailers. In its financial statements for the year ended December 31, 2015, Callaway reported the following balances and changes in the Allowance for Doubtful Accounts (in thousands): Balance at Beginning of Period $4,500 Charged to Bad Debt Expense $690 Amounts Written off $1,210 Balance at End of Period $3,980 Required: 1-a. Create a T-account for the Allowance for Doubtful Accounts and enter into it the amounts from the above schedule. TIP: The allowance increases when estimates are charged to Bad Debt Expense and when recoveries are reported. The allowance decreases when accounts are written off. 1-b. Write the T-account in equation format to prove that the above items account for the changes in the account. 2. Record summary journal entries related to (a) estimating bad debt expense and (b) write-offs of specific balances during the year. 3-a. If Callaway had written off an additional $210 (thousand) of accounts receivable during the period, by how much would Net Receivables have decreased? (amounts are in thousands) 3-b. If Callaway had written off an additional $210 (thousand) of accounts receivable during the period, how much would Net Income have decreased? (amounts are in thousands) Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 Req Reg 3B Write the T-account in equation format to prove that the above items account for the changes in the account. (Enter your answers in thousands.) Beginning Balance Ending Balance + Callaway Golf Company sells on account to golf pro shops and general sporting goods retailers. In its financial statements for the year ended December 31, 2015, Callaway reported the following balances and changes in the Allowance for Doubtful Accounts (in thousands): Balance at Beginning of Period $4,500 Charged to Bad Debt Expense $690 Amounts Written Off $1,210 Balance at End of Period $3,980 Required: 1-a. Create a T-account for the Allowance for Doubtful Accounts and enter into it the amounts from the above schedule. TIP: The allowance increases when estimates are charged to Bad Debt Expense and when recoveries are reported. The allowance decreases when accounts are written off. 1-b. Write the T-account in equation format to prove that the above items account for the changes in the account. 2. Record summary journal entries related to (a) estimating bad debt expense and (b) write-offs of specific balances during the year. 3-a. If Callaway had written off an additional $210 (thousand) of accounts receivable during the period, by how much would Net Receivables have decreased? (amounts are in thousands) 3-b. If Callaway had written off an additional $210 (thousand) of accounts receivable during the period, how much would Net Income have decreased? (amounts are in thousands) Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Reg 2 Reg 3A Req 3B Record summary journal entries related to (a) estimating bad debt expense and (b) write-offs of specific balances during the year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in thousands.) View transaction list Journal entry worksheet 1 2 > Record the adjusting entry for estimating bad debt expense. Note: Enter debits before credits. Callaway Golf Company sells on account to golf pro shops and general sporting goods retailers. In its financial statements for the year ended December 31, 2015, Callaway reported the following balances and changes in the Allowance for Doubtful Accounts (in thousands): Balance at Beginning of Period $4,500 Charged to Bad Debt Expense $690 Amounts Written Off $1,210 Balance at End of Period $3,980 Required: 1-a. Create a T-account for the Allowance for Doubtful Accounts and enter into it the amounts from the above schedule. TIP: The allowance increases when estimates are charged to Bad Debt Expense and when recoveries are reported. The allowance decreases when accounts are written off. 1-b. Write the T-account in equation format to prove that the above items account for the changes in the account. 2. Record summary journal entries related to (a) estimating bad debt expense and (b) write-offs of specific balances during the year. 3-a. If Callaway had written off an additional $210 (thousand) of accounts receivable during the period, by how much would Net Receivables have decreased? (amounts are in thousands) 3-b. If Callaway had written off an additional $210 (thousand) of accounts receivable during the period, how much would Net Income have decreased? (amounts are in thousands) Complete this question by entering your answers in the tabs below. Req 1A Req 1B Reg 2 Req Reg 3B Record summary journal entries related to (a) estimating bad debt expense and (b) write-offs of specific balances during the year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in thousands.) View transaction list Journal entry worksheet 1 2 Record the adjusting entry for write-offs of specific balances during the year. Note: Enter debits before credits. Transaction General Journal Debit Credit b Callaway Golf Company sells on account to golf pro shops and general sporting goods retailers. In its financial statements for the year ended December 31, 2015, Callaway reported the following balances and changes in the Allowance for Doubtful Accounts (in thousands): Balance at Beginning of Period $4,500 Charged to Bad Debt Expense $690 Amounts Written off $1,210 Balance at End of Period $3,980 Required: 1-a. Create a T-account for the Allowance for Doubtful Accounts and enter into it the amounts from the above schedule. TIP: The allowance increases when estimates are charged to Bad Debt Expense and when recoveries are reported. The allowance decreases when accounts are written off. 1-b. Write the T-account in equation format to prove that the above items account for the changes in the account. 2. Record summary journal entries related to (a) estimating bad debt expense and (b) write-offs of specific balances during the year. 3-a. If Callaway had written off an additional $210 (thousand) of accounts receivable during the period, by how much would Net Receivables have decreased? (amounts are in thousands) 3-b. If Callaway had written off an additional $210 (thousand) of accounts receivable during the period, how much would Net Income have decreased? (amounts are in thousands) Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 Reg 3A Req 3B If Callaway had written off an additional $210 (thousand) of accounts receivable during the period, by how much would Net Receivables have decreased? (amounts are in thousands) $ 690 $ 1,210 210 $ $ 0 Callaway Golf Company sells on account to golf pro shops and general sporting goods retailers. In its financial statements for the year ended December 31, 2015, Callaway reported the following balances and changes in the Allowance for Doubtful Accounts (in thousands): Balance at Beginning of Period $4,500 Charged to Bad Debt Expense $690 Amounts Written Off $1,210 Balance at End of Period $3,980 Required: 1-a. Create a T-account for the Allowance for Doubtful Accounts and enter into it the amounts from the above schedule. TIP: The allowance increases when estimates are charged to Bad Debt Expense and when recoveries are reported. The allowance decreases when accounts are written off. 1-b. Write the T-account in equation format to prove that the above items account for the changes in the account. 2. Record summary journal entries related to (a) estimating bad debt expense and (b) write-offs of specific balances during the year. 3-a. If Callaway had written off an additional $210 (thousand) of accounts receivable during the period, by how much would Net Receivables have decreased? (amounts are in thousands) 3-b. If Callaway had written off an additional $210 (thousand) of accounts receivable during the period, how much would Net Income have decreased? (amounts are in thousands) Complete this question by entering your answers in the tabs below. Req 1A Req 1B Reg 2 Req 3A Reg 3B If Callaway had written off an additional $210 (thousand) of accounts receivable during the period, how much would Net Income have decreased? (amounts are in thousands) $ 690 $ 1,210 $ 210 $ 0