What is c? ooo Inland C.. LTE 1:11 PM edugen.wileyplus.com C Problem 9-1A (Part

Question

What is c?

ooo Inland C.. LTE 1:11 PM edugen.wileyplus.com C Problem 9-1A (Part Level Submission) At December 31, 2016, House Co. reported the following information on its balance sheet. Accounts neceivable Less: Allomance for doubtful accounts During 2017, the company had the following transactions related to . Sales on account 2. Sales returns and allowances 3. Collections of accounts receivable 4. Write-offs of accounts receivable deemed uncollectible 5. Recovery of bad debts previously written off as uncollectible 000 Your answer is partially correct. Try again. Prepare the journal entry to record bad debt expense for 2017, assuming that an aging of accounts receivable indicates that expected bad debts are $115,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) The parts of this question must be completed in order. This part will be

Explanation / Answer

Allowance for Doubtful Account

(4)

90100

Bal

78000

(5)

30000

Bal

17900

Balance in Allowance for Doubtful Account

17900

Balance Needed

115000

Adjustment Required (115000 - 17900)

97100

Accounts title and Explanation

Debit

Credit

Bad debts

97100

Allowance for Doubtful Account

97100

Allowance for Doubtful Account

(4)

90100

Bal

78000

(5)

30000

Bal

17900

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