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Exercise 5-14 (Algo) Bad debts analysisAllowance account LO 5-5 On January 1, 2022, the balance in Kubera Company's Allowance for Bad Debts account was $1,420.
Exercise 5-14 (Algo) Bad debts analysisAllowance account LO 5-5 On January 1, 2022, the balance in Kubera Company's Allowance for Bad Debts account was $1,420. During the year, a total of $3,655 of delinquent accounts receivable was written off as bad debts. The unadjusted balance in the Allowance for Bad Debts account at December 31,2022 , was $1,390. Required: a. What was the total amount of bad debts expense recognized during the year? (Hint: Make a T-account for the Allowance for Bad Debts account.) b. As a result of a comprehensive analysis, it is determined that the December 31,2022 , adjusted balance of Allowance for Bad Debts should be $4,280. Show the adjustment required in journal entry format. Complete this question by entering your answers in the tabs below. What was the total amount of bad debts expense recognized during the year? (Hint: Make a T-account for the Allowance for Bad Debts account.)
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