NOWV2 | Online teachin x+EAssignment/takeAssignmentMain.do?invoker3&takeAssignmentSessionLocator%=&inprogress=falseeBookShow Me HowJuly 31Not1-3031-6061-90Over 90PastDaysDaysDaysDaysCustomerBalanceDuePast DuePast DuePast DuePast DueSubtotals1,050,000 600,000220,000115,000৪5,00030,000Boyd Industries36,00036,000Hodges Company11,50011,500Kent Creek Inc.6,6006,600Lockwood Company7,4007,400Van Epps Company13,00013,000Totals1,124,500 607,400233,000121,60096,50066,000Percentage uncollectible1%3%12%30%75%Allowance for Doubtful Accounts106,1066,0746,99014,59228,95049,500Assume that the allowance for doubtful accounts for Evers Industries has a credit balance of $8,240 before adjustment on July 31.Journalize the adjusting entry for uncollectible accounts as of July 31. If an amount box does not requre an entry, leave it blank.88July 31NextCheck My WorkEmail InstructorSave and ExitSubmit Assignment for Gradin

Solution: Bad debt expense = 106106 - 8240 = $97,866

Allowance for Doubtful Accounts 106,106 6,074 6,990 14,592 28,950 49,500 Assume that the allowance for doubtful accounts for Evers Industries has a credit balance of $8,240 before adjustment on July 31. Journalize the adjusting entry for uncollectible accounts as of July 31. If an amount box does not requre an entry, leave it blank. July 31

Allowance for Doubtful Accounts 106,106 6,074 6,990 14,592 28,950 49,500 Assume that the allowance for doubtful accounts for Evers Industries has a credit balance of $8,240 before adjustment on July 31. Journalize the adjusting entry for uncollectible accounts as of July 31. If an amount box does not requre an entry, leave it blank. July 31

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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