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Hess Computer Store has credit sales of $450,000 in 2016 and a balance of $600 in the Allowance for Doubtful Accounts at year end. As
Hess Computer Store has credit sales of $450,000 in 2016 and a balance of $600 in the Allowance for Doubtful Accounts at year end. As of December 31, 2016, $130,000 of accounts receivable remain uncollected. The credit manager of Hess prepared an aging schedule of accounts receivable and estimates that $7,800 will prove to be uncollectible. On March 4, 2017 the credit manager authorizes a write-off of the $1,000 balance owed by A. Myers. On March 4, 2017, before the write-off, assume the balance of Accounts Receivable account is $145,000 and the balance of Allowance for Doubtful Accounts is $5,000. Using a tabular summary enter the unadjusted balance for Allowance for Doubtful Accounts and prepare the adjustment to record the write off of the Myers account. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Stockholder's Equity Retained Earnings Exp. + Common Stock Rev. Div. $ $ $ Save for Later Last saved 18 hours ago. Attempts: 0 of 1 used Submit Answer Saved work will be auto-submitted on the due date
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