Homework Answers
Solution:
Bad debts expense for the year = Estimated uncollectibles + Debit balance of allowance for doubtful accounts
= $8,200 + $5,470 = $13,670
Therefore adjustment to record bad debts for the period will require a "Debit to bad debt expense for $13,670"
Hence last option is correct.
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Accounts has a $800 credit balance, the adjustment to record bad
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credit to Allowance for Doubtful Accounts for $5,000.
debit to Allowance for Doubtful Accounts for $3,400.
debit to Bad Debts Expense for $4,200.
debit to Bad Debts Expense for $3,400.
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