Using the % of A/R method, what would the
journal entry be if ending A/R was $600,000, the ending Allowance
for Doubtful Accounts (before adjustment) was a $3,000 debit
balance, and bad debts were estimated at 5% of ending A/R?
Homework Answers
| Bad debts expense = ( % of uncollectible * Ending accounts receivables ) + Unadjusted Debit balance in allowance for doubtful accounts = ( 5% * 600000 ) + 3000 | 33000 |
| Account titles and explanation | Debit | Credit |
| Bad debts expense | 33000 | |
| Allowance for doubtful accounts | 33000 |
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Using the % of A/R method, what would the
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