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PA8-2 (Algo) Interpreting Disclosure of Allowance for Doubtful Accounts (LO 8-2] TravelToday, 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 Accounta (dollars in million) Increases for Bad Decreases for Beginning Balance Debt Expense Write-offa $48 5 36 57 42 32 31 44 26 28 Ending Balance $ 51 48 42 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 (6) writing off specific customer account balances 3. Supply the missing information for 2018. 4. If TravelToday had written off an additional $37 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. Reg 1A Reg 13 Reg 2 Req3 Req* 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 Pag 1 Req 1B > Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Reg 2 Reg 3 Reg 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 $ Journal entry worksheet 1 2 Record the adjusting entry in 2017 for bad debts. Note: Enter debits before credits. Transaction General Journal Debit Credit a Record entry Clear entry View general foumal Journal entry worksheet I Havel iogay nad written on an adomonai 3/ Ol Accounts receivable during 2018, by now much would ret Receivades decreased? How much would Net Income have decreased? Complete this question by entering your answers in the tabs below. Req IA Req 18 Reg 2 Req 3 Req 4 If TravelToday had written off an additional $37 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