Homework Answers
| Estimated uncollectible account per aging (12/31/20) | $ 114,000 |
| Less: Allowance for uncollectible account (1/1/20) | $ (92,000) |
| Add: Uncollectible written off | $ 56,000 |
| Uncollectible account expense after adjustment | $ 78,000 |
Answer is A. $78,000
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An aging of a company's accounts receivable indicates that
$4,200 is estimated to be uncollectible. If Allowance for Doubtful
Accounts has a $800 credit balance, the adjustment to record bad
debts for the period will require a
credit to Allowance for Doubtful Accounts for $5,000.
debit to Allowance for Doubtful Accounts for $3,400.
debit to Bad Debts Expense for $4,200.
debit to Bad Debts Expense for $3,400.
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