Providing for Doubtful Accounts

At the end of the current year, the accounts receivable account has a balance of $940,000 and sales for the year total $10,660,000.

Determine the amount of the adjusting entry to provide for doubtful accounts under each of the following independent assumptions:

The allowance account before adjustment has a negative balance of $(12,700). Bad debt expense is estimated at 3/4 of 1% of sales. $79950

The allowance account before adjustment has a negative balance of $(12,700). An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $40,600. $27900

The allowance account before adjustment has a positive balance of $6,600. Bad debt expense is estimated at 1/2 of 1% of sales. $53300

The allowance account before adjustment has a positive balance of $6,600. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $54,800.

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