Homework Answers
Solution:
Requirement 1:
| Transaction | General Journal | Debit | Credit |
| A | Bad Debts Expense | € 306 | |
| Allowance for Uncollectible Accounts | € 306 | ||
| (To record bad debts expense estimate) |
Requirement 2:
| Transaction | General Journal | Debit | Credit |
| B | Allowance for Doubtful Accounts | € 158 | |
| Accounts Receivables | € 158 | ||
| ( To record write-off specific bad debts) |
Notes:
1) T-Account of Allowance for Doubtful Accounts
| Allowance for Doubtful Accounts | |||
| Accounts Receivable | € 158 | Beg. Balance | € 900 |
| Bad Debts | € 306 | ||
| End Balance | € 1,048 | ||
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