At the beginning of the year, Mitchum Enterprises allows for estimated uncollect

Question

At the beginning of the year, Mitchum Enterprises allows for estimated uncollectible accounts of $15,000. By the end of the year, actual bad debts total $17,000. value: 8.50 points 1. Record the write-off to uncollectible accounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the write-off to uncollectible accounts. Note: Enter debits before credits. Transaction General Journal Debit Credit Recordentry Clear entry

Explanation / Answer

Answer

Total Bad Debts (actual)

$17000

(-) Adjusted with Balance in Uncollectible accounts

$15000

Additional Bad Debt Expense to be charged

$2000

Transaction

General Journal

Debit $

Credit $

1

Bad Debt Expenses

$2000

Allowance for Uncollectible Accounts

$15000

Accounts receivables

$17000

Balance in Allowance for Uncollectible Accounts

$15000 Credit

(-) Bad Debt expense adjusted

$15000 (debited)

Balance after write off

0

Total Bad Debts (actual)

$17000

(-) Adjusted with Balance in Uncollectible accounts

$15000

Additional Bad Debt Expense to be charged

$2000

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.