Check my work 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) 9 alance at Beginning of Period 4, 400 Charged to Bad Debt Expense 800 Amounts Uritten Balance at End of Period $4,000 off $1,200 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 9 2. Record summary journal entries related to (a) estimating bad debt expense and (b) write-offs of specific balances during the year much would Net Receivables have decreased? (amounts are in thousands) much would Net Income have decreased? (amounts are in thousands) 3-a. If Callaway had written off an addfional $200 (thousand) of accounts receivable during the period, by how 2 3-b. If Callaway had written off an additional $200 (thousand) of accounts receivable during the period, how Complete this question by entering your answers in the tabs below. K Prev 2 of 8i Check my work Req 1A Req 18 Req 2 Req 3A Req 3B Create a T-account for the Allowance for Doubtful Accounts and enter into it the amounts from the above schedule. 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 year in the Allowance for Doubtful Accounts is a credit balance.) Show l Allowance for Doubtful Accounts Beg. Bal End. Bal. Req 1B > much would Net Receivables have decreased? (amounts are in thousands) 3-b. If Callaway had Written off an additional $200 (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 18 Req 2 Req 3A Req 38 Write the T-account in equation format to prove that the above items account for the changes in the account. (Ente answers in thousands.) Beginning Balance+ Ending Balance Req 1A Req 2 ) KPrev 2 of 8 Check my work Record summary journal entries related to (a) estimating bad debt expense and (b) write-offs of specific balances during o entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your ansv thousands.) View transaction list Journal entry worksheet 2 Record the adjusting entry for estimating bad debt expense. Note: Enter debits before credits. General Journal Debit Credit Transaction K Prev 2 of 8 Check my work Record summary journal entries related to (a) estimating bad debt expense and (b) write-offs of specific balances during no entry is required for a transaction/event, select "No Journal Entry Required in the first account field. Enter your ans thousands.) iew transaction list Journal entry worksheet ces Record the adjusting entry for write-offs of specific balances during the year. Note: Enter debits before credits Transaction General Journal Debit Credit
