Homework Answers
Ending balance of allowance for doubtful accounts = 77000 * 0.05 + 36000 * 0.15 + 8000 * 0.55
= 13650 credit
Current balance of allowance for doubtful accounts = 2000 debit
In ordert to increase the balance of allowance for doubtful account from 2000 debit to 13650 credit a total credit adjustment of 15650 is required
JOURNAL:
General Journal Debit Credit
Bad Debt Expense 15650
Allowance for doubtful account 15650
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