A company ages its accounts receivables to determine its end of period adjustment for bad debts....
A company ages its accounts receivables to determine its end of period adjustment for bad debts. At the end of the current year, management estimated that $15,750 of the accounts receivable balance would be uncollectible. Prior to any year end adjustments, the Allowance for Doubtful Accounts had a credit balance of $375. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense?
Bad Debts Expense 15,375
Allowance for Doubtful Accounts 15,375
Homework Answers
The entry would be
| Accounts | Debit | Credit |
|---|---|---|
| Bad debts expense | 15,375 | |
| Allowance for Doubtful Accounts | 15,375 |
(15,750-375)
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A company ages its accounts receivables to determine its end of
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