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topjm [15]
3 years ago
11

An aging of a company's accounts receivable indicates that $8400 are estimated to be uncollectible. If Allowance for Doubtful Ac

counts has a $4820 credit balance, the adjustment to record bad debts for the period will require a
Business
1 answer:
Alexxandr [17]3 years ago
8 0

Answer: Debit to bad debt expense for $3580.

Explanation:

Based on the information given, the bad debt expense will be:

= Desired balance - Actual balance before adjustment

= $8400 - $4820

= $3580

Based on the above, the journal entry will be:

Debit Bad debt expense $3580

Credit Allowance for uncollectible $3580

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Answer:

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The project manager building a swimming pool and clubhouse at a retirement community is reviewing the chronological sequence of
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Moringa products corporation had common stock of $820,000 and retained earnings of $1,250,000 on january 1. during the year, $75
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Based on the beginning retained earnings balance and the net income as well as dividends, the retained earnings balance will be $1,585,500.

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