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Arturiano [62]
3 years ago
14

The following is a portion of the current assets section of the balance sheets of Avanti's, Inc., at December 31, 2020 and 2019:

12/31/20 12/31/19 Accounts receivable, less allowance for bad debts of $9,191 and $17,208, respectively $177,589 $235,235 Required: a. If $11,944 of accounts receivable were written off during 2020, what was the amount of bad debts expense recognized for the year? (Hint: Use a T-account model of the Allowance account, plug in the three amounts that you know, and solve for the unknown.)
Business
1 answer:
elena55 [62]3 years ago
7 0

Answer:

$3,927

Explanation:

Bad debt expenses:

= Ending balance of allowance account + Write offs - Beginning balance of allowance account

= $11,944 + $9,191 - $17,208

= $3,927

                               <u> </u><u>Allowance for bad debt account</u>

Particulars                 Amount      Particulars                             Amount

Write offs                    $11,944         By balance b/d (beginning) $17,208

To balance c/d (ending) <u>$9,191</u>      Bad debt expense                 <u>$3,927</u>  

Total                             $21,135                                                     $21,135

Therefore, the amount of bad debts expense recognized for the year is $3,927.  

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