Question

Allowance for Doubtful Accounts has a credit balance of $1,390 at the end of the year (before adjustment), and an analysis of
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Answer a. debit Bad Debt Expense, $19,114; credit Allowance for Doubtful Account, $19114.

As

Bad debt expense = Uncollectible receivable - Allowances for Doubtful Accounts(Cr.) balance

= $20504-$1390

= $19114

Hit Thumbs up if satisfied

Have any query mention in comment section please

Thank you

Add a comment
Know the answer?
Add Answer to:
Allowance for Doubtful Accounts has a credit balance of $1,390 at the end of the year...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Allowance for Doubtful Accounts has a debit balance of $1,969 at the end of the year...

    Allowance for Doubtful Accounts has a debit balance of $1,969 at the end of the year before adjustment), and an analysis of customers' accounts indicates uncollectible receivables of $13.419 Which of the following entries records the proper adjustment for Bad Debt Expense? Select the correct answer debit Allowance for Doubtful Accounts, $15,388 credit Bad Debt Expense, $15,388 debit Allowance for Doubtful Accounts, $11.450 credit Bad Debt Expense, $11.450 debit Bad Debt Expense, $11.450 credit Allowance for Doubtful Accounts, $11.450 debit...

  • Allowance for Doubtful Accounts has a debit balance of $842 at the end of the year...

    Allowance for Doubtful Accounts has a debit balance of $842 at the end of the year (before adjustment), and an analysis of accounts in the customers ledger indicates uncollectible receivables of $16,139. Which of the following entries records the proper adjusting entry for bad debt expense? Select the correct answer. debit Bad Debt Expense, $15,297 credit Allowance for Doubtful Accounts, $15,297 debit Bad Debt Expense, $16,981 credit Allowance for Doubtful Accounts, $16,981 debit Allowance for Doubtful Accounts, $16,139 credit Bad...

  • Calculator Allowance for Doubtful Accounts has a debit balance of $2,300 at the end of the...

    Calculator Allowance for Doubtful Accounts has a debit balance of $2,300 at the end of the year (before adjustment). The company prepares an analys of customers' accounts and estimates the amount of uncollectible accounts to be $31,900. Which of the following adjusting entries is needed to record the bad debt expense for the year? a. debit Bad Debt Expense, $34,200; credit Allowance for Doubtful Accounts, $34,200 b. debit Allowance for Doubtful Accounts, $34,200; credit Bad Debt Expense, $34,200 c. debit...

  • Allowance for Doubtful Accounts has a debit balance of $289 at the end of the year...

    Allowance for Doubtful Accounts has a debit balance of $289 at the end of the year (before adjustment), and Bad Debt Expense is estimated at 3% of sales. If net credit sales are $884,500, the amount of the adjusting entry to record the estimate of the uncollectible accounts is a.$26,246 b.$26,535 c.$26,824 d.$289

  • Allowance for Doubtful Accounts has a debit balance of $2,500 at the end of the year...

    Allowance for Doubtful Accounts has a debit balance of $2,500 at the end of the year (before adjustment), and bad debt expense is estimated at 4% of credit sales.  If net credit sales are $800,000, the amount of the adjusting entry to record the estimate of the uncollectible accounts is Options: a. $29500 b. $34500 c. $32000 d. cannot be determined

  • Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $...

    Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $1,154,000 and sales for the year total $13,090,000. The allowance account before adjustment has a credit balance of $15,600. Bad debt expense is estimated at 3/4 of 1% of sales. The allowance account before adjustment has a credit balance of $15,600. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $49,900. The allowance account before...

  • Accounts Receivable has a debit balance of $40,000 and Allowance for Doubtful Accounts has a credit...

    Accounts Receivable has a debit balance of $40,000 and Allowance for Doubtful Accounts has a credit balance of $500 at the end of the year (before adjustment), and bad debt expense is estimated at 3% of credit sales. If credit sales are $300,000, record the adjusting entry for the estimated uncollectible accounts in the journal provided.

  • New Microsoft Word Document Review View Help Search 1 Aabend AaBbcd AaBb 1 Normal | No...

    New Microsoft Word Document Review View Help Search 1 Aabend AaBbcd AaBb 1 Normal | No Spac, Heading 1 AaBbce AaB AalbCD AaBbcDd Abcd Ad Heading Title Subtitle Subtle Em Emphasis Paragraph Styles Allowance for Doubtful Accounts has a credit balance of $956 at the end of the year (before adjustment), and an analysis of customers' accounts indicates uncollectible receivables of $11,408. Which of the following entries records the proper adjustment for Bad Debt Expense? Select the correct answer debit...

  • Calculator Allowance for Doubtful Accounts has a credit balance of $500 at the end of the...

    Calculator Allowance for Doubtful Accounts has a credit balance of $500 at the end of the year (before adjustment), and bad debt expense is estimated at 3% of credit sales. If credit sales are $300,000, the amount of the adjusting entry to record the estimated uncollectible accounts receivable a. is $9,500 b. is $9,000 c. is $8,500 d. Cannot be determined.

  • Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has...

    Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $836,000 and sales for the year total $9,480,000. a. The allowance account before adjustment has a credit balance of $11,300. Bad debt expense is estimated at 3/4 of 1% of sales. b. The allowance account before adjustment has a credit balance of $11,300. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $36,200. c. The...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT