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What is the carrying amount Question 11 On December 31, 2017, when its accounts receivable were $282,000 and its account Allowance for Doubtful Accounts had
What is the carrying amount
Question 11 On December 31, 2017, when its accounts receivable were $282,000 and its account Allowance for Doubtful Accounts had an unadjusted debit balance of $1,900, Ridgewood Corp. estimated that $15,800 of its accounts receivable would become uncollectible, and it recorded the bad debts adjusting entry. On May 11, 2018, Ridgewood determined that Fei Ya Cheng's account was uncollectible and wrote off $1,800. On November 12, 2018, Cheng paid the amount previously written off. (a) Your answer is correct. Prepare the required journal entries to record each of the above transactions. (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 o for the amounts.) 2017 Date Account Titles and Explanation Debit Credit Dec. 31 | Bad Debts Expense 17700 Allowance for Doubtful Accounts 17700 2018 Date Account Titles and Explanation Debit Credit May. 11 | Allowance for Doubtful Accounts 1800 Accounts Receivable 1800 Nov. 12 Accounts Receivable 1 Allowance for Doubtful Accounts 1800 (To reinstate account previously written off) f Cash 1800 Accounts Receivable (To record amount collected) x Your answer is incorrect. Try again. What is the carrying amount of the receivables on (1) December 31, 2017; (2) May 11, 2018; and (3) November 12, 2018, assuming that the total amount of accounts receivable of $282,000 is unchanged on each of these three dates except for any changes recorded above. Carrying amount December 31, 2017 282000 May 11, 2018 280200 November 12, 2018 280200Step by Step Solution
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