Question 1

At December 31, 2021, Suisse Imports reported this information on its balance sheet. Accounts receivable $ 600,000 Less: Allowance for doubtful accounts 37,000 During 2022, the company had the following transactions related to receivables. 1. Sales on account $ 2,500,000 2. Sales returns and allowances 50,000 3. Collections of accounts receivable 2,200,000 4. Write-offs of accounts receivable deemed uncollectible 41,000 Record bad debt expense for 2022, assuming that aging the accounts receivable indicates that estimated bad debts are $ 46,000. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Assets Liabilities Allow. For Cash + Accts. Rec. Doubtful Accts. (c) i 42000Record bad debt expense for 2022, assuming that aging the accounts receivable indicates that estimated bad debts are $ 46,000. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Stockholders' Equity Retained Earnings Common Stock + Rev. Exp. i i 42000 Bad debt expense