avestion 1 Chegs.com US Intermediate Accounting, 16 Kileso, Intermediate Account

Question

avestion 1 Chegs.com US Intermediate Accounting, 16 Kileso, Intermediate Accounting, 16 INTERMEDEATE ACCOUNTING (ACC 301-302-305) Problem 162 The trial balance before adjustment of Risen Company reports the folowing balances 158,000 Allowance for doubtul accounts Sales (ell on creait) Sales returns and allowances 1,310 700,000 for estimated bad debt are estimated tobe5%ofposs when the amount is entered. De not indent manually) Assume that a D instead or a ry. (C account titles are .utomatically indente. when the ame amount ls entered De net indent manually mal

Explanation / Answer

SOLUTION

A. Calculation of amount of bad debt expense-

B. Calculation of amount of bad debt expense-

S.No. Account titles and Explanation Debit ($) Credit ($) A. Bad Debt Expense 6,590   Allowance for Doubtful Accounts 6,590 B. Bad Debt Expense 9,210 Allowance for Doubtful Accounts 9,210

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