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E8-1 Recording Bad Debt Expense Estimates and Write-Offs Using the Aging of Receivables Method [LO 8-2] Blackhorse Productions, Inc., used the aging of accounts recewable

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E8-1 Recording Bad Debt Expense Estimates and Write-Offs Using the Aging of Receivables Method [LO 8-2] Blackhorse Productions, Inc., used the aging of accounts recewable method to estimate that its Allowance for Doubtful Accounts should be $20.250. The account had an unadjusted credit balance of $11,000 at that time. Required: Prepare journal entries for each of the following. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) a. The appropriate bad debt adjustment was recorded b. Later, an account receivable for $1,100 was determined to be uncollectible and was written off View transaction list Journal entry worksheet Record the end-of-period adjustment for bad debts under the aging of accounts receivable method. Note: Enter debits before credits. Transaction General Journal Debit Credit a Record entry Clear entry View general Journal PA8-4 Part 2 E8-2 Determining Financial Statement Effects of Bad Debt Expense Estimates and Write-offs [LO 8-2] Blackhorse Productions, Inc, used the aging of accounts receivable method to estimate that its Allowance for Doubtful Accounts should be $20,950. The account had an unadjusted credit balance of $10,600 at that time, a. The appropriate bad debt adjustment was recorded b. Later, an account receivable for $1,600 was determined to be uncollectible and was written of Required: For each transaction listed above, indicate the amount and direction for increase or - for decrease) of effects on the financial statement accounts and on the overall accounting equation (Enter any decreases to Assets, Liabilities, or Stockholders Equity with a minus sign.) Assets Liabilities Stockholi b (+ for increase or - for decrease) of effects on the financial any decreases to Assets, Liabilities, or Stockholders Equity with Liabilities Stockholders' Equity

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