Enter question here... Instructions Prepare journal entries to record the 2012 t
ID: 2359731 • Letter: E
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Enter question here...
Instructions
Prepare journal entries to record the 2012 transactions of Kardashian Company.
Description Debit Credit CashBad debts expenseAccounts payableAllowance for doubtful accountsAccounts receivable Accounts receivableAllowance for doubtful accountsBad debts expenseCashAccounts payable (To record amount written off.) Allowance for doubtful accountsBad debts expenseAccounts payableAccounts receivableCash Accounts payableAllowance for doubtful accountsAccounts receivableCashBad debts expense (To reverse write-off.) Bad debts expenseAccounts payableCashAccounts receivableAllowance for doubtful accounts Allowance for doubtful accountsAccounts payableCashAccounts receivableBad debts expense (To record collection of amount written off.) Bad debts expenseAllowance for doubtful accountsAccounts receivableCashAccounts payable CashAccounts payableAccounts receivableAllowance for doubtful accountsBad debts expense (To record estimated bad debts for year.)Explanation / Answer
(To record amount written off.) Dr Bad Debt Expenses $13642 Cr Account Receivable $13642 (To reverse write-off.) Dr Account Receivable $2352 Cr Bad Debt Expenses $2352 (To record collection of amount written off.) Dr Cash $2352 Cr Account Receivables $2352 (To record estimated bad debts for year.) Dr Bad Debt Expenses (20626 - 15680) $4946 Cr Allowance for doubtful accounts $4946 Hope this helps!
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