Tsosie Companies sells on account to golf pro shops and general sporting goods retailers. In its financial statements for the year ended December 31, 2018. Tsosie reported the following balances and changes in the Allowance for Doubtful Accounts (in thousands): Required: 1.a. Create a T-account for the Allowance for Doubtful Accounts and enter into it the amounts from the above schedule. TiP: The allowance increases when estimates are charged to Bad Debt Expense and when recoveries are reported. The allowance decreases when accounts are written off. 1.b. Write the T-account in equation format to prove that the above items account for the changes in the account. 2. Record summary journal entries related to (o) estimating bad debt expense and (b) write-offs of specific balances during the year. 3. If Tsosie had written off an additional $260 (thousand) of accounts receivable duting the period, 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. Create a T-account for the Allowance for Doubtful Accounts and enter inte it the amounts from the above schedule. TIP: The allowance increases when estimates are charoed to Bad Debt Expense and when recoverins are reported. The allowance decreases when accounts are written off, (Enter your answers in thousands. The talence of the beginning of the vear in the Alowasce for Doubtful Accounts is a credit baiance.) 1-a. Create a T-account for the Allowance for Doubtful Accounts and enter into it the amounts from the above schedule. TiP: The allowance increases when estimates are charged to Bad Debt Expense and when recoverles are reported. The allowance decreases when accounts are written off. 1.b. Write the T-account in equation format to prove that the above items account for the changes in the account. 2. Record summary journal entries related to (a) estimating bad debt expense and (b) write-offs of specific balances during the year. 3. If Tsosie had written off an additional $260 (thousand) of accounts receivable during the period, 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. Write the T-account in equation format to prove that the above items account for the changes in the account. (Enter your answers in thousands.) iecord summary foumal entries related to (a) estimating bad debt expense and (b) write-offs of specific balances during the year. (If no intry is required for a transaction/event, select "No Journal Entry Required" in the first account fieid. Enter your answers in thousands.) Journal entry worksheet Record the adjusting entry for estimating bad debt expense. Note: Enter debits before credits. Record summary journal entries related to (a) estimating bad debt expense and (b) write-offs of specific balances during the year. entry is required for a transaction/event, select "No Joumal Entry Required" in the first account fleld. Enter your answers in thousan Journal entry worksheet Record the adjusting entry for write-offs of specific baiances during the year. Note: Enter debits before credits, 1-a. Create a T-account for the Allowance for Doubtful Accounts and enter into it the amounts from the above schedule. allowance increases when estimates are charged to Bad Debt Expense and when recoveries are reported. The allo decreases when accounts are written off, 1-b. Write the T-account in equation format to prove that the above items account for the changes in the account. 2. Record summary journal entries related to (a) estimating bad debt expense and (b) write-offs of specific balances dur 3. If Tsosie had written off an additional $260 (thousand) of accounts recelvable during the period, by how much would Receivables have decreased? How much would Net Income have decreased? Complete this question by entering your answers in the tabs below. If Tsosie had written off an additional $260 (thousand) of accounts recelvable during the period, by how much would Net Recelvables have decreased? How much would Net Income have decreased
