Allowance for Doubtful Accounts has a debit balance of $1,100 at the end of the

Q: Allowance for Doubtful Accounts has a debit balance of $1,100 at the end of the

Solution: Answer to the above question is d. Journal Debit Credit Bad debt expense 14,000 Allowance for doubtful debts 14,000

ID: 2473087 • Letter: A

Question

Allowance for Doubtful Accounts has a debit balance of $1,100 at the end of the year (before adjustment), and an analysis of customers' accounts indicates uncollectible receivables of $12,900. Which of the following entries records the proper adjustment for Bad Debt Expense? a. debit Allowance for Doubtful Accounts, $14,000; credit Bad Debt Expense, $14,000 b. debit Bad Debt Expense, $11,800; credit Allowance for Doubtful Accounts, $11,800 c. debit Allowance for Doubtful Accounts, $11,800; credit Bad Debt Expense, $11,800 d. debit Bad Debt Expense, $14,000; credit Allowance for Doubtful Accounts, $14,000

Explanation / Answer

Solution:

Answer to the above question is d.

Journal Debit Credit Bad debt expense 14,000 Allowance for doubtful debts 14,000

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Allowance for Doubtful Accounts has a credit balance of $880 at the end of the y

Allowance for Doubtful Accounts has a debit balance of $1,200 at the end of the

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Allowance for Doubtful Accounts has a debit balance of $1,100 at the end of the

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