Question
Marin, Inc. had net sales in 2020 of $1,456,300. At December 31, 2020, before adjusting entries, the balances in selected accounts were Accounts Receivable $349,500
Marin, Inc. had net sales in 2020 of $1,456,300. At December 31, 2020, before adjusting entries, the balances in selected accounts were Accounts Receivable $349,500 debit, and Allowance for Doubtful Accounts $4,200 credit. Assume Marin prepares an aging schedule that estimates total uncollectible accounts at $33,300. Prepare the entry to record bad debt expense. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) I thought it was
Bad debt expense 29100
allowance for doubtful accounts 29100
I haven't checked 29100 but bad debt expense is wrong
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