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Enter the January 1, 2022, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts and determine the balances.
Enter the January 1, 2022, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts and determine the balances. (Post entries in the order of journal entries posted in the previous part) Accounts Receivable 565700 50000 2560000 2260000 16000 42400 16000 Allowance for Doubtful Accounts 42400 Bal 42400 16000 Prepare the journal entry to record bad debt expense for 2022, assuming that aging the accounts receivable indicates that estimated bad debts are $46,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit Bad Debt Expense Allowance for Doubtful Accounts e Textbook and Media List of Accounts Compute the accounts receivable turnover. (Round answer to 1 decimal place, es. 124) Accounts receivable turnover times e Textbook and Media List of Accounts Compute the average collection period. (Round answer to 1 decimal place, eg. 124. Use 365 days for calculation.) Average collection period days
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