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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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Andrei [34K]

Answer:

Pam and Lenny's Ice Cream Shop

a. The effect of the promotion on operating income for the second week of February is an increase by $350.

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Explanation:

a) Data and Calculations:

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Advertising costs                              165.00

Total costs                                      $690.00

Additional income                          $350.00

6 0
3 years ago
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tatiyna
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creativ13 [48]
I think at least 3-4





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6 0
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Answer:

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now i hope this helps you

3 0
2 years ago
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Dahasolnce [82]

Answer:

D

Explanation:

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8 0
3 years ago
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