Answer:
The answer is given below;
Explanation:
$160,000*(3/4)*1%=$1,200
Bad Debt Expense Dr.$1,200
Allowance for Doubtful Accounts Dr.$1,200
$65,000*12%=$7,800
$12,000*24%=$2,880
$3,000*48%=$1,440
Total Allowance for Doubtful Accounts for December 31, $12,120
Total Allowance for Doubtful Accounts Opening ( $1,100)
Bad Debt Expense for the year $11,020
Bad Debt Expense Dr.$11,020
Allowance for Doubtful Accounts Cr.$11,020
Various Accounts to be shown pertaining to Account Receivable will be;
1.Allowance for Doubtful Accounts -Balance Sheet $12,120