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please, don't cut off some of the answers. thanks ! Required information Problem 9-2A (Algo) Estimating and reporting bad debts LO P2, P3 [The following
please, don't cut off some of the answers. thanks
! Required information Problem 9-2A (Algo) Estimating and reporting bad debts LO P2, P3 [The following information applies to the questions displayed below.) At December 31, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $ 760,000 $ 1,900,000 In addition, Its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $570,000 debit $ 6,800 debit Problem 9-2A (Algo) Part 1 Required: 1. Prepare the adjusting entry to record bad debts under each separate assumption o. Bad debts are estimated to be 2% of credit sales b. Bad debts are estimated to be 1% of total sales c. An aging analysis estimates that 6% of year end accounts receivable are uncollectible: Adjusting entries (all dated December 31). Problem 9-2A (Algo) Part 1 Required: 1. Prepare the adjusting entry to record bad debts under each separate assumption. a. Bad debts are estimated to be 2% of credit sales. b. Bad debts are estimated to be 1% of total sales. c. An aging analysis estimates that 6% of year-end accounts receivable are uncollectible. Adjusting entries (all dated December 31). View transaction list Journal entry worksheet A B C Bad debts are estimated to be 2% of credit sales. Note: Enter debits before credits Date General Journal Debit Credit December 31 View transaction list Journal entry worksheet A B B > > Bad debts are estimated to be 2% of credit sales. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general Journal Step by Step Solution
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