2 A/R.BALANCE@ 12/31/2008 5,000,000 MAKE THE REQUIRED ENTRIES TO SET UP THE RESERVE FOR EACH CASE RESERVE FOR BAD DEBT IS 1% OF THE ENDING A/R BALANCE CASE 1 ALLOW FOR DOUBIFUL ACCTS BAL e 12/31/200g 0 CASE 2 ALLOW FOR DOUBTFUL ACCTS BAL @ 12/31/2008 40,000 CREDIT CASE 3 ALLOW FOR DOUBTFUL ACCTS BAL@ 12/31/2008 10,000 DEBIT 3 A COMPANY WENT BANKRUPT AND OWED $18,000 TO ABC. MAKE THE ENTRY TO WRITE OFF THE$18,000 USING THE ALLOWANCE METHOD). で

2 A/R.BALANCE@ 12/31/2008 5,000,000 MAKE THE REQUIRED ENTRIES TO SET UP THE RESERVE FOR EACH CASE RESERVE FOR BAD DEBT IS 1% OF THE ENDING A/R BALANCE CASE 1 ALLOW FOR DOUBIFUL ACCTS BAL e 12/31/200g 0 CASE 2 ALLOW FOR DOUBTFUL ACCTS BAL @ 12/31/2008 40,000 CREDIT CASE 3 ALLOW FOR DOUBTFUL ACCTS BAL@ 12/31/2008 10,000 DEBIT 3 A COMPANY WENT BANKRUPT AND OWED $18,000 TO ABC. MAKE THE ENTRY TO WRITE OFF THE$18,000 USING THE ALLOWANCE METHOD). で

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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