cBook Show Me HowCalaulator Providing for Doubtful Accounts At the end of the cu

Question

cBook Show Me HowCalaulator Providing for Doubtful Accounts At the end of the current year, the accounts receivable eccount has a debit balance of s992.000 and sales for the yeer total $11. 240,000 tit 13400, An expens Determine the amount of the adjusting entry to provide for doubtful accounts under eoch of the assumptions (a through d) listed above The allowance eccount before adjustment h85 a debit balance of 513.400. Bed debt expense is estimated et 1/4 of 1% of sales. b. The allowance account before adjustment has a debit balance of S13,400. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $42,900. c. The allowance account before adjustment has a credit balance of 7,600. Bad debt expense is estimated at 1/2 of 1% of sales. nce account before in the customer ledger indie doubtful accounts of b. d. Check My Work PremousNext Save and Exit Submit t for Greding

Explanation / Answer

Calculate adjusting entry amount :

a) (11240000*1%*1/4) = 28100

b) (42900+13400) = 56300

c) (11240000*1%*1/2) = 56200

d) (63100-7600) = 55500

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