Accounts receivable = $836,000
Sales = $9,480,000
a.
Allowance for doubtful accounts = $11,300 ( Credit)
Bad debt expense = 3/4 of 1% of sales
= 9,480,000 x 1% x 3/4
= $71,100
b.
Allowance for doubtful accounts = $11,300 ( Credit)
Bad debt expense = Estimated doubtful accounts - Allowance for doubtful accounts
= 36,200-11,300
= $24,900
c.
Allowance for doubtful accounts = $98,600 (Debit)
Bad debt expense = 1/2 of 1% of sales
= 9,480,000 x 1% x 1/2
= $47,400
d.
Allowance for doubtful accounts = $8,600 (Debit)
Bad debt expense = Estimated doubtful accounts + Allowance for doubtful accounts
= 71,400+8,600
= $80,000
a. | $71,100 |
b. | $24,900 |
c. | $47,400 |
d. | $80,000 |
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