Question
In the balance sheet at the end of its first year of operations, Dinty Inc. reported an allowance for uncollectible accounts of $82,000. During
In the balance sheet at the end of its first year of operations, Dinty Inc. reported an allowance for uncollectible accounts of $82,000. During the year, Dinty wrote off $32,000 of accounts receivable it had attempted to collect and failed. Credit sales for the year were $2,200,000, and cash collections from credit customers totaled $1,950,000. In Dinty's adjusting entry for bad debts at year-end, which of these would be included? Multiple Choice Debit to bad debt expense for $114,000 Credit to allowance for uncollectible accounts for $82,000. Debit to accounts receivable for $32,000. All of these answer choices are correct
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