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Andrej [43]
3 years ago
9

All sales are made on credit. Based on past experience, the company estimates 2.5% of ending account receivable to be uncollecti

ble. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense?
Business
1 answer:
Misha Larkins [42]3 years ago
4 0

Answer:

Debit Bad Debts Expense $12,475

Credit Allowance for Doubtful Accounts $12,475

Explanation:

Calculation for estimated bad debts expense:

Explanation

Accounts receivable * Sales uncollectible

$445,000×0.025

=11,125

Hence:

11,125 +Allowance for Doubtful Accounts 1,350

=$12,475

Therefore the estimated bad debt will be:

Debit Bad Debts Expense $12,475

Credit Allowance for Doubtful Accounts $12,475

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