The Austin Co., which uses an Allowance for Doubtful Accounts, had the following transactions in 2013 and

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The Austin Co., which uses an Allowance for Doubtful Accounts, had the following transactions in 2013 and 2014:

a. Journalize the transactions. (The Austin Co. uses the income statement approach to estimate bad debts.)
b. Journalize how Austin Co. would record the Mike Catuc bad debt situation if the direct write-off method were used.

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College Accounting A Practical Approach

ISBN: 978-0132564441

11th Canadian Edition

Authors: Jeffrey Slater, Brian Zwicker

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Question Posted: Feb 23, 2016 06:14 AM

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The Austin Co., which uses an Allowance for Doubtful Accounts, had the following transactions in 2013 and

Question:

2013 Dec. 2014 Apr. June 2014 Aug. 31 Recorded Bad Debts Expense of $12,000. Wrote off Angie Ring account of $4,000 as uncollectible. 3 Wrote off Mike Catuc account of $3,000 as uncollectible. 7 Recovered $500 from Mike Catuc.

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a b Date 2013 Dec 31 Bad Debt Expense 2015 2014 April 1 Allowance for Doubtful Accounts ...View the full answer

College Accounting A Practical Approach

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