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JL PA 8 - 2 ( Algo ) Interpreting Disclosure of Allowance for Doubtful Accounts [ LO 8 - 2 ] Marshall Travel, disclosed the
JL PAAlgo Interpreting Disclosure of Allowance for Doubtful Accounts LO
Marshall Travel, disclosed the following rounded amounts in millions concerning the Allowance for Doubtful Accounts on its Form
K annual report.
Required:
a Prepare a Taccount for the Allowance for Doubtful Accounts and enter into it the amounts from the above schedule. The
balance at the beginning of each year in the Allowance for Doubtful Accounts is a credit balance.
b Write the Taccount in equation format to prove the above items account for the changes in the account.
Record summary journal entries for related to a estimating Bad Debt Expense and b writing off specific customer account
balances.
Supply the missing information for
If Marshall Travel had written off an additional $ of Accounts Receivable during by how much would Net Receivables have
decreased? How much would Net Income have decreased?
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