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On 31 December 2014, Codina Ltd had accounts receivable of $68,500 and an allowance for doubtful debts of $3,100. The credit manager decided to write
On 31 December 2014, Codina Ltd had accounts receivable of $68,500 and an allowance for doubtful debts of $3,100. The credit manager decided to write off as irrecoverable the debt of Chin & Chon Ltd, totaling $1,200 and increase the allowance for doubtful debts to $4,200. What was the journal entry needed to increase the allowance for doubtful debts after the debt of Chin & Chon Ltd was written off
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