Allowance for Doubtful Accounts has a debit balance of $2,900 at the end of the year, before adjustments. If an analysis of receivables indicates doubtful accounts of $36,000, what will be the amount of the appropriate adjusting entry? [Need The adjusting entry in Table format]
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Allowance for Doubtful Accounts has a debit balance of $2,900 at the end of the year, before adjustments. If an analysis of receivables indicates doubtful accounts of $36,000, what will be the amount of the appropriate adjusting entry? [Need The adjusting entry in Table format]
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- Before the year-end adjustment the Allowance for Doubtful Accounts has a debit balance of $5,000. Using the aging of receivables method, the desired balance of the Allowance for Doubtful Accounts is estimated as $35,000. a) What is the uncollectible accounts expense for the period? b) What is the journal entry required? c) What is the balance of the Allowance for Doubtful Accounts after adjustment? d) If the accounts receivable balance is $325,000, what is the net realizable value of the receivables after adjustment?Hi,I am having a terrible time trying to understand when the balance in the allowance for doubtful account is involved in the final answer, and when it is not. Will you please explain why the answers are what they are in the attachment?In addition to this, please post to the allowance these 2022 events: Allowance for Doubtful Accounts 2021 12/31 Bal 7900 12/31 37015 12/31 Bal 44915 2022 DATE? ??? 5/1 ??? As well as: Journalize the adjusting entry for bad debts at December 31, 2022, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $1,200 and the aging schedule indicates that total estimated bad debts will be $34,500. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
- After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $610,084 and Allowance for Doubtful Accounts has a balance of $20,670. What is the net realizable value of the accounts receivable? Select the correct answer. $20,670 $610,084 $630,754 $589,414c. On December 31, 2019, an aging-of-receivables, indicates that $41 million of the total receivables of $444 million is uncollectible at year-end. Record doubtful-account expense at December 31, 2019. Post this amount to Allowance for Doubtful Accounts, and show its adjusted balance at December 31, 2019. Begin by preparing the journal entry. Date C. Journal Entry Accounts Doubtful-Account Expense Allowance for Doubtful Accounts ▼ Debit Credit Choose from any list or enter any number in the input fields and then click Check Answer. i Data Table Accounts receivable Allowance for doubtful accounts Print Done (In millions) $ 381 (52) xAnalysis of receivables methodAt the end of the current year, Accounts Receivable has a balance of$3,460,000, Allowance for Doubtful Accounts has a debit balance of$12,500, and sales for the year total $46,300,000. Using the aging method,the balance of Allowance for Doubtful Accounts is estimated as $245,000. Determine (a) the amount of the adjusting entry for uncollectibleaccounts; (b) the adjusted balances of Accounts Receivable, Allowancefor Doubtful Accounts, and Bad Debt Expense; and (c) the net realizablevalue of accounts receivable.
- The balance of Allowance for Doubtful Accounts before adjustment at the end of the period is P 400 credit. Based on an analysis of Accounts Receivable, it was estimated that 9,000 would become uncollectible. Required: a) Determine the bad debts expense for the year. b) Prepare the adjusting entry to be made of December 31. c) Determine the balance in Allowance for Doubtful Accounts after adjustment.Allowance for Doubtful Accounts has a credit balance of $2,100 at the end of the year (before adjustment), and an analysis of customers' accounts indicates uncollectible receivables of $19,700. Which of the following entries records the proper adjustment for bad debt expense? Allowance for Doubtful Accounts has a debit balance of $880 at the end of the year (before adjustment), and an analysis of accounts in the customers ledger indicates uncollectible receivables of $15,204. Which of the following entries records the proper adjusting entry for bad debt expense? a.debit Bad Debt Expense, $880 credit Allowance for Doubtful Accounts, $880 b.debit Bad Debt Expense, $14,324 credit Allowance for Doubtful Accounts, $14,324 c.debit Bad Debt Expense, $16,084 credit Allowance for Doubtful Accounts, $16,084 d.debit Allowance for Doubtful Accounts, $15,204 credit Bad Debt Expense, $15,204
- Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $670,000; Allowance for Doubtful Accounts has a debit balance of $6,000; and sales for the year total $3,020,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $29,400. a. Determine the amount of the adjusting entry for uncollectible accounts. b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable Allowance for Doubtful Accounts Bad Debt Expense c. Determine the net realizable value of accounts receivable. %24 %24 %24 %24 %24Oregon Ltd's account balances at December 31, 2021, before adjusting entries, include: Accounts receivable: $156,000 Allowance for doubtful accounts: $1,900 All account balances are normal balances. After reviewing the receivables balance, management estimates that $5,000 of the accounts receivable will be uncollectible. The required adjusting entry would include a credit to the allowance account in the amount of: Question 5 options: $1,900 $6,900 $5,000 $3,100At the end of the current year, Accounts Receivable has a balance of $3,750,000, Allowance for Doubtful Accounts has a credit balance of $22,750, and sales for the year total $48,400,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $390,000.Determine (a) the amount of the adjusting entry for uncollectible accounts; (b) the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense; and (c) the net realizable value of accounts receivable.