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The following information is taken from the 2015 annual report to shareholders of Hewlett-Packard (HP) Co. For each posted entry in the allowance account during
The following information is taken from the 2015 annual report to shareholders of Hewlett-Packard (HP) Co.
For each posted entry in the allowance account during 2015, prepare the journal entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)
The following information is taken from the 2015 annual report to shareholders of Hewlett-Packard (HP) Co. For Fiscal 2015 For Fiscal 2014 Provision for doubtful accounts $ 46 million $ 25 million Accounts receivable, net Accounts receivable, gross At Fiscal Year-end 2015 13,363 million 13,552 million At Fiscal Year-end 2014 13,832 million 14,064 million For each posted entry in the allowance account during 2015, prepare the journal entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) View transaction list View journal entry worksheet Debit Credit 3 3 1 Record the bad debt expense for the fiscal year 2015. 46 2 Record the entry to write-off the uncollectible account. 46Step by Step Solution
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