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PA8-2 (Algo) Interpreting Disclosure of Allowance for Doubtful Accounts [LO 8-2] Away Travel, disclosed the following rounded amounts (in Millions concerning the Allowance for Doubtful Accounts on its Form 10-K annual report Year 2018 2017 2016 Allowance for Doubtful Accounts (dollars in millions) Increases for Bad Decreases for Beginning Balance Debt Expense write-offs $ 41 $ 29 $? 35 30 24 37 19 21 Ending Balance $ 44 41 35 Required: 1-a. Prepare a T-account for the Allowance for Doubtful Accounts and enter into it the 2016 amounts from the above schedule. The balance at the beginning of each year in the Allowance for Doubtful Accounts is a credit balance 1-b. Write the T-account in equation format to prove the above items account for the changes in the account. 2. Record summary journal entries for 2017 related to (a) estimating Bad Debt Expense and (b) writing off specific customer account balances 3. Supply the missing information for 2018 4. If Away Travel had written off an additional $30 of Accounts Receivable during 2018, by how much would Net Receivables have decreased? How much would Net Income have decreased? Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Reg 1A Req 18 Reg 2 Reg 3 Reg 4 Prepare a T-account for the Allowance for Doubtful Accounts and enter into it the 2016 amounts from the above schedule. The balance at the beginning of each year in the Allowance for Doubtful Accounts is a credit balance. (Enter your answers in millions.) Allowance for Doubtful Accounts Debit Credit Beginning Balance Ending Balance Reg 1B > 4. VLUU JUGA U LUCRU W YOUR CAR MWY PLUG AMC balances. 3. Supply the missing Information for 2018 4. If Away Travel had written off an additional $30 of Accounts Receivable during 2018, by how much would Not Receivables hav decreased? How much would Net Income have decreased? Complete this question by entering your answers in the tabs below. Reg 1A Reg 18 Reg 2 B Reg 3 Req 4 Write the T-account in equation format to prove the above items account for the changes in the account. (Enter your answers in millions.) Beginning Balance Ending Balance $ 0 View transaction list Journal entry worksheet 1 2 Record the adjusting entry in 2017 for bad debts. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet balonces 2. Record summary Journal entries for 2017 related to (a) estimating Bed Debt Expense and (6) writing of specific customer account 3. Supply the missing information for 2018 4. IT Away Travel had written off on additional $30 of Accounts Receivable during 2018, by how much would Not Receivables have decreased? How much would Not Income have decreased? Complete this question by entering your answers in the tabs below. Reg 1A Reg 18 Reg 2 Reg 4 Req3 If Away Travel had written off an additional $30 of Accounts Receivable during 2018, by how much would Net Receivables have decreased? How much would Net Income have decreased? (Enter your answers in millions.) Net Receivables Net Income