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CH 8 : Q 9 Campbell - Wilson Corporation, is a software development company that recently reported the following amounts ( in thousands ) in
CH: Q
CampbellWilson Corporation, is a software development company that recently reported the following amounts in thousands in its unadjusted trial balance as of February
: Assume CampbellWilson uses of percent of revenue to estimate its bad debt expense for the year. Prepare the adjusting journal entry required at February for recording Bad Debt Expense. If no entry is required for a transactionevent select No Journal Entry Required" in the first account field. Enter your answers in whole dollars, rather than in thousands of dollars eg $ would be entered as $
:Assume instead that CampbellWilson uses the aging of accounts receivable method and estimates that $thousand of Accounts Receivable will be uncollectible. Prepare the adjusting journal entry required at February for recording bad debt expense.TIP: The aging of accounts receivable method focuses on calculating what the adjusted Allowance for Doubtful Accounts balance should be You need to consider the existing balance when determining the adjustment. If no entry is required for a transactionevent select No Journal Entry Required" in the first account field. Enter your answers in whole dollars, rather than in thousands of dollars eg $ would be entered as $
: Assume that the unadjusted balance in CampbellWilson's Allowance for Doubtful Accounts at February was a debit balance of $thousand CampbellWilson uses the aging of accounts receivable method and estimates that $thousand of Accounts Receivable will be uncollectible. Prepare the adjusting journal entry required at February for recording bad debt expense. If no entry is required for a transactionevent select No Journal Entry Required" in the first account field. Enter your answers in whole dollars, rather than in thousands of dollars eg $ would be entered as $
: If one of CampbellWilsons customers declared bankruptcy, what journal entry would be used to write off its $thousand balance? If no entry is required for a transactionevent select No Journal Entry Required" in the first account field. Enter your answers in whole dollars, rather than in thousands of dollars eg $ would be entered as $
PLEASE HOW EACH STEP WHILE KEEPING THE WORK EASY TO FOLLOW. SO I CAN LOOK AT THE ANSWERS AND LEARN HOW TO DO IT MYSELF.
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