I need help what am I doing wrong??? x CChegg.com x Accounting What The Nun X Ac

Question

I need help what am I doing wrong???

x CChegg.com x Accounting What The Nun X Accounting What The Nun X C fi ezto.mheducation.com 3post SubmissionView NQ2 Score: 8.75/24 points 36.46 Question 1 of 10 T. Award 50 out of 3.00 points On January 1, 2013, the balance in Tabor Co.'s Allowance for Bad Debts account was $13,304. During the first 11 months of the year, bad debts expense of $21,504 was recognized. The balance in the Allowance for Bad Debts account at November 30, 2013, was $9,766. Required (a) What was the total of accounts written off during the first 11 months? (Hint: Make a Taccount for the Allowance for Bad Debts account.) 21,504X Bad Debts Write-off (b) As the result of a comprehensive analysis, it is determined that the December 31, 2013, balance of the Allowance for Bad Debts account should be $9.293. Show the adjustment required in the journal entry ormat Event General Journal Debit Cred 9,766X Allowance for bad debts Bad debts expense 25.042 13,304 Bad debts expense 21,504 ERed text indicates no response was expected in a cellor a formula-based calculation is incorrect no points deducted M Assignment Results x You instructions l help Return To Assignment LIst 12:43 AM 2/13/2016

Explanation / Answer

a. bad debts amount written off comes $25042

Allowance for Bad-debts a/c

Debit

Credit

Date

Particulars

Amount ($)

Date

Particulars

Amount ($)

01-Jan-13

By Balance b/f

13304

11 months

Account written off

25042

11 months

bad debts exp

21504

20-Nov-13

Balance c/d

9766

34808

34808

B. balance on 30 November 2013 is $9766 and balance needs to be maintained as on 31 dec 2013 is $9293

Difference is 9766-9293=473 can be transfered back to Income and expenses account. Journal entry will be:-

Allowances for bad debts account Dr. $473

To Bad debts expenses $473

Bad debts expenses a/c Dr. $473

To Income and expesnes account $473

Allowance for Bad-debts a/c

Debit

Credit

Date

Particulars

Amount ($)

Date

Particulars

Amount ($)

01-Jan-13

By Balance b/f

13304

11 months

Account written off

25042

11 months

bad debts exp

21504

20-Nov-13

Balance c/d

9766

34808

34808

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