account receivable =195000
ALLOWANCE FOR BAD DEBT= 11610 DEBIT
1-30 | 31-60 | 61-90 | over 90 | Total balance | |
account receivable | 80000 | 55000 | 50000 | 10000 | 195000 |
estimated percent | 0.7 | 5 | 9 | 49 | |
estimated total uncollectible | 560[80000*0.7%] | 2750 | 4500 | 4900 | 12710 |
journal
allowance for bad debt account is credit balance.
the balance should be 12710credit
however it is 11610$ debit
so it should be adjusted by debiting bad debts [12710+11610]=24320$
Dec 31 | bad debt expense | 24320 | ||
allowance for bad debt account | 24320 | |||
3.T account allowance for bad debts
31/12 | 11610 | 24320 | 31/12 | |
end bal. | 12710 | 31/12 | ||
4. balance sheet
current assets | ||||
account receivable | 195000 | |||
less: allowance for bad debt account | 12710 | 182290 | ||
O thon Help Al December 31, 2018, the Accounts Receivable balance of Questor Application Inc is $195,000. The Al...
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