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Question 2 Tech Ltd has a high rate of bad debts. End balance for the allowance for doubtful accounts will be based on the aging
Question 2 Tech Ltd has a high rate of bad debts. End balance for the allowance for doubtful accounts will be based on the aging schedule shown. Before the year end adjustments, the company's allowance for doubtful account $2,000 DR The year-end balance for the allowance for the allowance for doubtful accounts will be based on the aging schedule shown. Complete the table for the estimated amount of bad debt of each aging category ging Categor Bad Debt Balance Estimated Amount of Bad Debt ss than 20 d 2.00% $300,000 20-30 days 2.50% 5 100,000 31 -60 days 20.00% $20,000 61 - days 50.00% $5,000 a) Prepare the journal entry to record bad debt expense at year-end (December 31, 2000). b) Prepare the journal entry to record the write-off of Customer A's account on NS 250 c) Customet A returns and pays the account in full. Prepare the journal transactions to reverse the write-off and record the payment. Date Description DR
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