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Hello, i need help with this question, please answer and & explain with the formulas you used. Thank you! This is question 2) H 2.
Hello, i need help with this question, please answer and & explain with the formulas you used. Thank you!
This is question 2)
H
2. Record summary joumal entries for 2012 related to () estimating bad EzScanner Corporation is the company that made the photocopier popular although it now describes itself as the word's leading enterprise for business process and document managment. It recently disclosed the following information concerning the Allowance for Doubtful Accounts on its Form 10-K annual report. debt expense and (i) writing off specific balances. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in millions (.e., 10,000,000 should be entered as 10).) Journal entry worksheet SCHEDULE Valuation and Qualifying Accounts (dollars in millions) Additions Charged to Record the adjusting entry for bad debts for 2012 Allowance for Accounts 2012 2011 2010 Balance at Year $105 Doubtful Beginning of Bad Debt Write- Balance at Expense Offs End of Year 40 Note: Enter debits before credits S50 $115 ansaction General Journal Debit Credit 65 105 153 Required 1- Create a T-account for the Allowance for Doubtful Accounts and enter into a. it the 2012 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 millions (i.e., 10,000,000 should be Record entry View general journal Clear entry entered as 10).) Allowance for Doubtful Accounts 3. Supply the missing information for 2011 and 2010. (Enter your answers Beg. Bal in millions (i.e., 10,000,000 should be entered as 10).) dditions Balance at Charged llowance Balance at End of Year End. Bal for Accounts 2011 Doubtful Beginning to Bad Write-Offs of Year Debt ense 65 153 4-a.lf EzScanner had written off an additional $25 of accounts receivable during 2010, by how much would its Net Accounts Receivable have decreased? 1- Write the T-account in equation format to prove that the above items b. account for the changes in the account. (Enter your answers in millions $69 $25 (i.e., 10,000,000 should be entered as 10).) $77 Beginning Balance Ending Balance How much would the write-off have decreased Income from Operations? $77 $25Step by Step Solution
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