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Katena32 [7]
3 years ago
8

Credit sales 172,000 collections on accounts receivable during the year 170,000 cash sales 818,000 unadjusted debit balance in a

llowance for doubtful accounts 40 sales returns and allowances for credit sales 2,000 accounts receivable, beginning 14,000.If expected bad debts are estimated to be 1 1/2% of ending accounts receivable, the adjusting entry to recognize bad debts will include a debit to bad debt expense for a) $170 b)$190 c) $250 d) $210
Business
1 answer:
Marina CMI [18]3 years ago
7 0

Answer:

$250  ( C )

Explanation:

using the given data below is the entry

The adjusting entry to recognize bad debts will include a debit to bad debt expense for

<h3>  particulars                                                                   amount</h3>

Beginning accounts receivable                                                     14000

+ Credit sales made during the year                                             172000

(-) collections from debtors                                                            (170000)

(-) expected salary return & allowances for credit sales               (2000)

Ending accounts receivable                                                          14000

Percentage of bad debt                                                                 1.5%

Total bad debts balance required ( 14000*1.5%)                          210

+ Already debit balance in allowance for doubtful account         40

Total debit to be made in bad debts                                              250

Total debts = total bad debts balance required + already debit balance in all

                  =  210 + 40 = $250

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