Question
The following Account receivable and allowance information is available for Tanking Pistons Inc. -The beginning balance in the Allowance for Doubtful Accounts was $17,000 -$21,000
The following Account receivable and allowance information is available for Tanking Pistons Inc.
-The beginning balance in the Allowance for Doubtful Accounts was $17,000
-$21,000 of accounts were written off during the year as being uncollectible
-An aging of accounts receivable indicates that the ending balance in the allowance account should be $20,000. A journal entry is made on December 31 for the allowance account.
a.Make all journal entries for the year. You do not need dates for the entries
b. For each entry, what is the effect of the entry on total assets, liabilities, equity, revenues, expenses, and net income? Give both direction and amount
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