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Dafna11 [192]
3 years ago
15

Kirchhoff Industries has computed that the proper balance for the Allowance for Doubtful Accounts at August 31 is $143,495. Assu

me that the allowance for doubtful accounts for Kirchhoff Industries has a credit balance of $6,934 before adjustment on August 31. Required: Journalize the adjusting entry for uncollectible accounts as of August 31. Refer to the chart of accounts for the exact wording of the account titles. KNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. KNOW journals will automatically indent a credit entry when a credit amount is entered.
Business
1 answer:
sveticcg [70]3 years ago
4 0

Answer:

Date        Account titles and Explanation          Debit         Credit

31 Aug.    Bad debt expense                             $136,561

               ($143,495 - $6,934)

                       Allowance for doubtful accounts                 $136,561

               (To record computed allowance)

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