Question

Prepare journal entries for each transaction listed. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) a. At the end of June, bad debt expense is estimated to be $14.400. b. In July, customer balances are written off in the amount of $7,200. View transaction list Journal entry worksheet Record the estimated bad debt expense of 14,400. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal

Answer 1

Solution

Transaction	General Journal	Debit	credit
a	Bad debts expense	$    14,400
	Allowance for doubtful accounts		$ 14,400
	(To record bad debts expense)
b	Allowance for doubtful accounts	$      7,200
	Accounts receivable		$    7,200
	(To record write off of accounts)