Question

Dialex Watches completed the flowing selected transactions during 2004 and 2025 (Click the icon to view the transactions) Read the requirements Requirement 1. The Taccounts for Allowance for Bad Debts and Bad Debts Expense have been spened for you, assuming the accounts begin with a zero balance. Record the transactions in the general journal (amit explanations), and post to the two Taccounts. Record debits first, the credits. Exclude explorations from ſound entries Abbreviations used Ad Adjusting entry, Clos. Closing entry, WO - Withoof) Begin by recording the 2004 tractions in the general mal Dec. 31: Estimated the bad debts expense for the year was of credit sales of $480,000 and recorded that amount as expense. The company uses the lowce method Date Accounts and Explanation Debit Credit 2024 Dec. 31 Requirements 1. The T-accounts for Alowance for Bed Debts and Bad Debts Expense have been opened for you, assuming the courte begin with a blanca Record the transactions in the general Journal omtesplanations and post to the two Tacco 2. Assume the December 31, 202, balance of Accounts Receivables $130.000. Show how et counts receivable would be reported on the balance sheet at the date Done

Answer 1

Record the transactions in the general journal(omit explanations)? Answer: Credit Date Account Titles and Explanation 31-Dec-24 Bad debts expense a/c To Allowance for bad debts a/c Debit $ 14,400.00 $ 14,400.00 $ 14,400.00 31-Dec-24 Income summary To Bad debts expense a/c $ 14,400.00 17-Jan-25 Accounts receivable a/c - Manny Vasquez To Merchandise Inventory a/c $ 800.00 $ 800.00 $ 800.00 29-Jun-25 Allowance for bad debts a/c To Accounts receivable a/c - Manny Vasquez $ 800.00 $ 800.00 06-Aug-25 Accounts receivable a/c - Manny Vasquez To Allowance for bad debts a/c $ 800.00 $ 800.00 Cash a/c To Accounts receivable a/c - Manny Vasquez $ 800.00

$ 3,850.00 31-Dec-25 Allowance for bad debts a/c To Accounts receivable a/c - Bill Kappy To Accounts receivable a/c - Mary Marlin To Accounts receivable a/c - Richard Renik $ 1,800.00 $ 1,400.00 $ 650.00 31-Dec-25 Bad debts expense a/c To Allowance for bad debts a/c $ 14,100.00 $ 14,100.00 $ 14,100.00 31-Dec-25 Income summary To Bad debts expense a/c $ 14,100.00

If you need any further explanation, kindly request in the comment section, glad to be helpful.