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kap26 [50]
3 years ago
10

Youmin has accounts receivable of $95,400 at march 31, 2021 (amounts in thousands). Credit terms are 2/10, n/30. At march 31, 20

21, there is a $2,100 credit balance in allowance for doubtful accounts prior to adjustment. The company uses the percentage‐of‐receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below.
SAT
1 answer:
Elodia [21]3 years ago
6 0

Based on the information given bad debt expense is $8,675 and the journal entry is: Debit Bad debt  $6,575; Credit Allowance for Doubtful Account $6,575.

<h2>a. Bad debt expense:</h2>

Accounts Receivable   Amount       %          Estimated Uncollectible

Current                          $65,000         2%              $1,300

1–30 days past due      $12,900          5%              $645

31–90 days past due    $10,100          30%            $3,030

Over 90 days past due $7,400          50%            $3,700

Total                                                                         $8,675

<h2>b. Journal entry:</h2>

March 31 2021

Debit Bad debt  $6,575

Credit Allowance for Doubtful Account $6,575

($8,675-$2,100)

Inconclusion bad debt expense is $8,675 and the journal entry is: Debit Bad debt  $6,575; Credit Allowance for Doubtful Account $6,575.

Learn more about bad debt expense here:brainly.com/question/24871617

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The reader's reaction to the presentation of events according to me will be Sympathy for Mrs. Pontellier's circumstances.

For better understanding, let us explain what sympathy means

  • Sympathy  is simply referred to as when a way an individual uses t relate to someone e.g have walked in their shoes. It shows that you understand the depth of what they may be going through and your heart goes to them.
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from the above, we can therefore say that the answer The reader's reaction to the presentation of events according to me will be Sympathy for Mrs. Pontellier's circumstances is correct

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7 0
2 years ago
Where are my smart friends?? i had $3. 0. My mom gave $10. 0. My brother gave $30. 0. My aunt and uncle gave me $100. 0. I had a
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Explanation: 3 + 10 = 13

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