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fredd [130]
3 years ago
11

Knelling Company reported a balance in Accounts Receivable of $50,000 and a credit balance of $3,000 in the Allowance for Doubtf

ul Accounts. The company’s aging of accounts receivable determined $12,000 to be uncollectible. Prepare the end-of-period adjusting entry to record bad debit expence.
Business
1 answer:
Crank3 years ago
8 0

Answer:

Bad Debt A/c Dr  $9,000

To Credit Allowance for Bad & Doubtful  A/c    $9,000

Explanation:

According to the scenario, the journal entry are given below:

Journal Entry:

Bad Debt A/c Dr  $9,000

To Credit Allowance for Bad & Doubtful  A/c    $9,000

(Being the Bad debt A/c is recorded)

The computation for bad debts are given below:

 Bad debts = Uncollectible Amount - Credit balance in Allowance for doubtful A/c

Where,

Uncollectible Amount = $12,000

Credit balance in Allowance for doubtful A/c = $3,000

By putting the value we get,

= $12,000 - $3,000

= $9,000

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Answer:

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Answer:

Read the explanation below

Explanation:

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The benefits of Dollar Cost Averaging attracts investors to employ. These benefits include:

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2. The problem of market timing is eliminated especially for investors do not have time to track the market regularly or who lack the understanding of the market.

3. The cost basis to consumers on stocks whose values decline are is reduced.

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I wish you the best.

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