Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 8 - Reporting and Analyzing Receivables - Brief Exercises: BE8-5

Answer

Adjusting Journal Entry: (a) Bad debts 6,500 dollars Allowance for doubtful accounts 6,500 dollars (b) Bad debts 8,600 dollars Allowance for doubtful accounts 8,600 dollars

Work Step by Step

(a) To adjust allowance account to total estimated uncollectable (b) To adjust allowance account to total estimated uncollectable, and the debit of 600 dollars in allowance account
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