Journalize and post the adjusting entry for bad debts at December 31, 2017. Help

Question

Journalize and post the adjusting entry for bad debts at December 31, 2017. Help I System Announcements Assignment t Gradebook ORION Downloadable eTextbook ctice ment (a) Journalize and post the adjusting entry for bad debts at December 31, 2017. (Credit accou Date Account Titles Debit Credit Dec. 31 Bad Debts Expense Date Explanation Ref. Debit Credit Balance Dec. 31 Adjusting Allowance for Doubtful Accounts Date Explanation Ref. Debit Credit Balance Dec. 31 Balance Dec. 31 Adjusting SHOW LIST OF ACCOUNTS Policy 12 2000-2017 John Wiley & Sons Inc All Rights Reserved. A Divis on of 2ohn Wiley & Sons, Ins

Explanation / Answer

a.The following is the required journal entry;

positng the adjusting enrty is as below:

Bad debts expense:

Allowance for doubtful accounts

Date Account titles Debit Credit Dec 31. Bad debt expense a/c $26,899 ...........To Allowance for doubtful accounts a/c $26,899 (total estimated balance - unadjusted balance =>$38,499 - 11,400 =>$26,899)

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