Using the following categories, indicate
the effects of the following transactions. Use + for increase and −
for decrease and indicate the accounts affected and the amounts. a.
At the end of the period, bad debt expense is estimated to be
$16,000. b. During the period, bad debts are written off in the
amount of $7,200.
Homework Answers
| Assets | = | Liabilities | + | Stockholder's Equity | ||||
| a. | Allowance for Doubtful Accounts | $ -16,000 | NA | Bad debt expense | $ -16,000 | |||
| b. | Accounts Receivable | $ -7,200 | NA | NA | ||||
| Allowance for Doubtful Accounts | $ 7,200 |
Add Answer to:
Using the following categories, indicate
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