Answer:
C. $52,100
Explanation:
Account Receivables On December 31, 2016,
= $53,800
Estimate of receivables that will not be collected is an indication of receivables gone bad.
Such receivables are usually written off the books by Crediting account receivables and debiting bad debit expense.
If it is only probable that the receivables may not be collected, the entries would be credit to allowance for bad debt and a debit to bad debt.
In this instance, the debt will not be collected hence
Debit bad debt expense $1,700
Credit Trade receivables $1,700
Being entries to recognize receivables that will not be collected.
Account receivables adjusted balance = $53,800 - $1,700
= $52,100
Answer and Explanation:
The adjusting entry is as follows:
Supplies expense ($1,823 + $4,344 - $286) $5,881
To supplies payable $5,881
(being the supplies expense is recorded)
Here the supplies expense is debited as it increased the expense and supply payable is credited as it also increased the liabilities
Answer:
Following are the solution to the given question:
Explanation:
Please find the complete question in the attachment file.
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Answer:
Difficult but if you are try it will be easier to you