At the end of the current year, the accounts receivable account has a debit balance of...

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At the end of the current year, the accounts receivable account has a debit balance of...

At the end of the current year, the accounts receivable account has a debit balance of $1,251,000 and sales for the year total $14,180,000.

The allowance account before adjustment has a credit balance of $16,900. Bad debt expense is estimated at 1/4 of 1% of sales.

The allowance account before adjustment has a credit balance of $16,900. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $54,100.

The allowance account before adjustment has a debit balance of $9,100. Bad debt expense is estimated at 1/2 of 1% of sales.

The allowance account before adjustment has a debit balance of $9,100. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $75,500.

business accounting

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Answer 1

Answer #1

Account Titles and Explanation	Debit	Credit
Bad Debt Expense ($14,180,0001/1001/4 = $35,450 - $16,900)	$18,550
Allowance for Uncollectible Accounts		$18,550
(To record the bad debt expense)

Account Titles and Explanation	Debit	Credit
Bad Debt Expense ($54,100 - $16,900)	$37,200
Allowance for Uncollectible Accounts		$37,200
(To record the bad debt expense)

Account Titles and Explanation	Debit	Credit
Bad Debt Expense ($14,180,0001/1001/2 = $70,900 + $9,100)	$80,000
Allowance for Uncollectible Accounts		$80,000
(To record the bad debt expense)

Account Titles and Explanation	Debit	Credit
Bad Debt Expense ($75,500 + $9,100)	$84,600
Allowance for Uncollectible Accounts		$84,600
(To record the bad debt expense)

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Answer 2

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