Homework Answers
Answer:
Correct option is a. $467000.
Explanation:
Bad debts Expense for current period = Opening balance of Allowance for doubtful Accounts + Write off bad debts expense - Ending balance of allowance for doubtful Accounts
= $723000 + $648000 - $904000
= $467000.
Note: Allowance for doubtful Accounts has a credit balance and when write off bad debts expense then following entry will be passed:
Bad debts expense Account .... Debit
Allowance for doubtful Accounts ... Credit
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