Question
On January 1, Griffin Company had the following (normal) account balances: Accounts Receivable: $69,400 Allowance for Bad Debts: 1,270 The bookkeeper, Barbara Jackson, has prepared
On January 1, Griffin Company had the following (normal) account balances:
Accounts Receivable: $69,400
Allowance for Bad Debts: 1,270
The bookkeeper, Barbara Jackson, has prepared the following information for the year to assist you in creating a balance sheet.
Credit Sales for the Year: $230,400
Collections of Accounts Receivable: 228,040
Write-off of Bad Debts: 160
Bad Debts Expense for Year: 350
(recorded as an adjusting entry on December 31)
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Financial Accounting An International Introduction
Authors: David Alexander, Prof Christopher Nobes, Chris W. Nobes
4th Edition
027372164X, 978-0273721642
