Question

Not sure how to answer this next part. Thank you for the help :)

1. Prepare the adjusting entry to record bad debts under each separate assumption a. Bad debts are estimated to be 3% of credit sales. b. Bad debts are estimated to be 2% of total sales. c. An aging analysis estimates that 6% of year-end accounts receivable are uncollectible. Adjusting entries (all dated December 31). (Do not round intermediate calculations.) Answer is complete and correct. No Transaction General Journal Debit Credit 1 a. > Bad debts expenso Allowance for doubtful accounts 92,280 92,280 2 b. Bad debts expense Allowance for doubtful accounts 94,982 O 94,982 3 G. Bad debts expense Allowance for doubtful accounts 69,402 69,402 < Prev 4 ទី ១ 6 of 7 Next >

Answer 1

Required 2 :
Current assets :
Accounts receivables	932028
Less: Allowance for doubtful accounts [ 92280 - 13480 ]	78800	853228
Required 3 :
Current assets :
Accounts receivables	932028
Less: Allowance for doubtful accounts [ 69402 - 13480 ]	55922	876106