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Vermillion Ltd . prepares an aging schedule for its accounts receivable at the end of each month and records credit losses monthly. The following selected
Vermillion Ltd prepares an aging schedule for its accounts receivable at the end of each month and records credit losses monthly. The
following selected information is from Vermillion's partial aging schedule at the end of March:
The unadjusted balance in Allowance for Expected Credit Losses is a credit of $
Complete the aging schedule and calculate the total estimated uncollectible accounts from the above information.
eTextbook and Media
List of Accounts
Prepare the adjusting journal entry to record the credit losses using the information determined in part aList debit entry before
credit entry. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select
No Entry" for the account titles and enter for the amounts.
Account Titles and Explanation
Debit
Credit
Allowance for Expected Credit Losses
Would your journal entry be different if the unadjusted balance in Allowance for Expected Credit Losses were a debit of $
Yes the credit losses would be $
I tried there is not bad debit expense that option
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