Question
Shasta, Inc's unadjusted trial balance shows the following balances: Accounts Receivable $220,000; Allowance for Doubtful Accounts $(12,000) Sales $980,000 (of which $720,000 were Credit Sales)
Shasta, Inc's unadjusted trial balance shows the following balances:
Accounts Receivable $220,000; Allowance for Doubtful Accounts $(12,000)
Sales $980,000 (of which $720,000 were Credit Sales)
What is the amount of the adjusting entry to estimate the bad debt expense assuming that an aging analysis estimates that $26,000 of the Accounts Receivables are deemed uncollectible?
Bad Debt Expense: ______
What is the new credit balance in Allowance for Doubtful Accounts after the adjusting entry is posted?
Allowance for Doubtful Accounts balance:_____
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Challenges Of Performance Audit Implementation A Case Study Of Amhara National Regional State Selected Audited Public Sectors
Authors: Alazar Tiruneh
1st Edition
6200487596, 978-6200487599
