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TravelToday, Inc., disclosed the following rounded amounts (in thousands) concerning the Allowance for Doubtful Accounts on its Form 10-K annual report. Allowance for Doubtful Accounts (dollars in thousands) Beginning Increases for Decreases for Balance Bad Debt Expense Write-offs 9.109 4,050 8,100 4,650 3,650 12,600 950 5,450 Year 2016 2015 2014 $ Ending Balance 1.25e 9,100 8,100 Required: 1-a. Prepare a T-account for the Allowance for Doubtful Accounts and enter into it the 2014 amounts from the above schedule. The balance at the beginning of each year in the Allowance for Doubtful Accounts is a credit balance 1-b. Write the T-account in equation format to prove the above items account for the changes in the account. 2. Record summary journal entries for 2015 related to (a) estimating Bad Debt Expense and (b) writing off specific customer account balances 3. Supply the missing information for 2016 4. If Travel Today had written off an additional $31 of Accounts Receivable during 2016, by how much would Net Receivables have decreased? How much would Net Income have decreased? Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 2 Reg 3 Reg 4 Prepare a T-account for the Allowance for Doubtful Accounts and enter into it the 2014 amounts from the above schedule. The balance at the beginning of each year in the Allowance for Doubtful Accounts is a credit balance. (Enter your answers in thousands.) Allowance for Doubtful Accounts Beg Bal End Bal Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 2 Reg 3 Reg 4 Write the T-account in equation format to prove the above items account for the changes in the account. (Enter your answers in thousands.) Beginning Balance Ending Balance Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 2 Reg 3 Reg 4 Record summary journal entries for 2015 related to (a) estimating Bad Debt Expense and (b) writing off specific customer account balances. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in thousands.) View transaction list Journal entry worksheet Record the adjusting entry in 2015 for bad debts. Note: Enter debits before credits Transaction General Journal Debit Credit Complete this question by entering your answers in the tabs below. Reg 1A Req 1B Reg 2 Req3 Req 4 Record summary journal entries for 2015 related to (a) estimating Bad Debt Expense and (b) writing off specific customer account balances. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in thousands.) View transaction list Journal entry worksheet Record the adjusting entry in 2015 for the write-off of specific customer balances. Note: Enter debits before credits Transaction General Journal Debit Credit Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Reg 2 Reg 3 Reg 4 Supply the missing information for 2016. (Enter your answers in thousands.) Allowance for Doubtful Accounts Balance at Beginning of Year Write Offs Additions Charged to Bad Debt Expense 4,050 Balance at End of Year 2016 9,100 1.250 Complete this question by entering your answers in the tab below. Reg 1A Reg 1B Reg 2 Reg 3 Reg 4 If TravelToday had written off an additional $31 of Accounts Receivable during 2016, by how much would Net Receivables have decreased? How much would Net Income have decreased? (Enter your answers in thousands.) Net Receivables Net Income
