Homework Answers
Services provided = $136,000
Cash received = $98,000
Accounts receivable, ending = Services provided - Cash received
= 136,000 - 98,000
= $38,000
Bad debt expense = Accounts receivable x Bad debt percentage
= 38,000 x 30%
= $11,400
Journal
| Dec. 31 | Bad debt expense | 11,400 | |
| Allowance for doubtful accounts | 11,400 |
2.
| Accounts receivable | 38,000 |
| Less: Allowance for doubtful accounts | - 11,400 |
| Net realizable value | 26,600 |
Kindly comment if you need further assistance. Thanks
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