Your answer is partially correct. Try again. The ledger of Sheffield Corp, at th

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Your answer is partially correct. Try again. The ledger of Sheffield Corp, at the end of the current year shows Accounts Receivable $100,000; Sales Revenue $843,000; and Sales Returns and Allowances $18,800 (a) If Sheffield Corp. uses the direr b is uncollectible. If Allowance for Doubtful Accounts has a credit balance of $1 900 in the trial balance 1700 off method to account for uncollectible accounts, journalize the adjusting entry at December 31, assuming Sheffield Corp. determines that L. Dole's s1,700 balance sting entry at December 31 assuming bad debts are expected to be 12% of accounts receivable. ou alize the ad (c) If Allowance for Doubtful Accounts has a debit balance of $193 in the trial balance, journalize the adjusting entry at December 31, assuming bad debts are expected to be 6% of accounts receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation (a) Bad Debt Expense Debit Credit 1700 1700) Accounts Receivable (b) Accounts Receivable 228 Allowance for Doubtful Accounts 228 Click if you would like to Show Work for this question: Open Show Work

Explanation / Answer

Journal entry :

Date account title and explanation debit credit (a) Bad debt expense 1700     Account receivable 1700 (b) Bad debt expense (100000*12%-1900) 10100     Allowance for doubtful accounts 10100 (c) Bad debt expense (100000*6%+193) 6193    Allowance for doubtful accounts 6193

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