Homework Answers
| Part 1 | |||
| a | Bad debts = 3851000 x 3 % = | 115530 | |
| Debit | Credit | ||
| Bad debts | 115530 | ||
| Allowance for doubtful accounts | 115530 | ||
| ( Being adjustment entry created) | |||
| b | Bad debts =( 3851000+ 1584510) x 3% | 163065 | |
| Debit | Credit | ||
| Bad debts | 163065 | ||
| Allowance for doubtful accounts | 163065 | ||
| ( Being adjustment entry created) | |||
| Part 2 | |||
| Accounts receivables | 1166853 | Debit | |
| Less :Allowance for doubtful accounts | 90980 | Credit | |
| 1075873 |
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