Question

Answer the following independent questions.

Windsor, Inc. had net sales in 2017 of $1,475,200. At December 31, 2017, before adjusting entries, the balances in selected accounts were Accounts Receivable $212,500 debit, and Allowance for Doubtful Accounts $1,828 debit. Assume that 11% of accounts receivable will prove to be uncollectible. Prepare the entry to record bad debt expense. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31, 2017 SHOW LIST OF ACCOUNTS Accounts Payable Accounts Receivable Advertising Expense Allowance for Doubtful Accounts Bad Debt Expense Cash Cash Over and Short Due from Factor Due to Customer Discount on Notes Payable Discount on Notes Receivable Freight-In Freight-Out Gain on Disposal of Land Interest Expense Interest Payable Interest Receivable Interest Revenue Inventory Land Loss on Sale of Receivables Miscellaneous Expenses No Entry Notes Payable Notes Receivable Office Expense Owner's Drawings Petty Cash Postage Expense Purchase Discounts Recourse Liability Sales Discounts Sales Discounts Forfeited Sales Revenue Service Revenue Supplies Supplies Expenses Unearned Sales Revenue LINK TO TEXT

Windsor, Inc. had net sales in 2017 of $1,475,200. At December 31, 2017, before adjusting entries, the balances in selected accounts were Accounts Receivable $212,500 debit, and Allowance for Doubtful Accounts $3,410 credit. Assume Windsor prepares an aging schedule that estimates total uncollectible accounts at $25,600. Prepare the entry to record bad debt expense. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31, 2017 SHOW LIST OF ACCOUNTS LINK TO TEXT

Answer 1

Windsor, Inc. had net sales in 2017 of $1,475,200. At December 31, 2017, before adjusting entries, the balances in selected accounts were Accounts Receivable $212,500 debit, and Allowance for Doubtful Accounts $1,828 debit. Assume that 11% of accounts receivable will prove to be uncollectible. Prepare the entry to record bad debt expense. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31, 2017	Bad debt expense (212500*11%+1828)	25203
	Allowance for doubtful accounts		25203

Windsor, Inc. had net sales in 2017 of $1,475,200. At December 31, 2017, before adjusting entries, the balances in selected accounts were Accounts Receivable $212,500 debit, and Allowance for Doubtful Accounts $3,410 credit. Assume Windsor prepares an aging schedule that estimates total uncollectible accounts at $25,600. Prepare the entry to record bad debt expense. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31, 2017	Bad debt expense (25600-3410)	22190
	Allowance for doubtful account		22190