bert had accounts receivable of 310000 and an allowance for doubtful accounts of 12600 just before...
bert had accounts receivable of 310000 and an allowance for doubtful accounts of 12600 just before writing off as worthless an account receivable from ernie company of1700
Homework Answers
answer
allowance for doubtful accounts = $12,600-17,00
=$10,900 (credit balance )
explanation
1. allowance for doubtful accounts is a balance that reduces the accounts receivable and report that amount to the balance sheet at the end of the date .
2. allowance for doubtful accounts normally have credit balance
3. it is the contra entry ( it has sometimes debit and credit balance )
note : the book value of the accounts receivable = $310,000-10900=$299,100
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bert had accounts receivable of 310000 and an
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