Bidiyah Co. estimates tha accounts receivable to be uncollectible. Allowance for Doubtful Accounts has a RO 1,200 debit balance, the company should record a: Select one: O a debit to Bad Debt Expense for RO 8,000. O b. debit to Bad Debt Expense for RO 6,800. O credit to Allowance for Doubtful Accounts for RO 8,000. O d. None of the answers are correct O e debit to Bad Debt Expense for RO 9,200.

Bidiyah Co. estimates tha accounts receivable to be uncollectible. Allowance for Doubtful Accounts has a RO 1,200 debit balance, the company should record a: Select one: O a debit to Bad Debt Expense for RO 8,000. O b. debit to Bad Debt Expense for RO 6,800. O credit to Allowance for Doubtful Accounts for RO 8,000. O d. None of the answers are correct O e debit to Bad Debt Expense for RO 9,200.

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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d) The trial balance before adjustment of Braxton Inc. shows the following balances. DEBIT CREDIT Accounts receivable $170,000 Allowance for doubtful accounts 1,750 Net Credit Sales $1,280,000 Journalize the Bad Debt Expenses assuming: i. 1.2% of Sales will be uncollectible ii. iii. 9% of gross accounts receivable will be uncollectible the same as part ii above instead there is a credit balance in Allowance for doubtful accounts of $1,700 and collected $2,100 from an account previously written off.
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The trial balance before adjustment of saturn corp shows the following balances. Dr. P97,400 3,300 Cr. Accounts Receivable Allowance for Doubtful Accounts Sales Revenue (all on credit) Give the entry for estimated bad debts assuming that the allowance is to provide for doubtful accounts on the basis of (a) 4% of gross accounts receivable and (b) 5% of gross accounts receivable and Allowance for Doubtful Accounts has a P1,857 credit balance. P643,200
idiyah Co. estimates that RO 6,500 of its accounts receivable to be uncollectible. If Allowance for Doubtful Accounts has a RO 200 debit balance, the company should record a elect one: O a. None of the answers are correct O b. debit to Bad Debt Expense for RO 5,300. O c credit to Allowance for Doubtful Accounts for RO 6,500. O d. debit to Allowance for Doubtful Accounts for RO 5,300. O e. credit to Bad Debt Expense for RO 7,700.
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Moving to another ques uestion 12 On March 1, a customer's account balance of $32,300 was deemed to be uncollectible. What entry should be recorded on March 1 to record the write-off assuming the company uses the allowance method? O Debit Bad Debts Expense $32,300; credit Accounts Receivable $32,300 O Debit Allowance for Doubtful Accounts $32,300; credit Accounts Receivable $32,300 O Debit Accounts Receivable $32,300; credit Bad Debts Expense $32,300 O Debit Allowance for Doubtful Accounts $32,300; credit Bad Debts Expense $32,300 Question 12 of 15 >>>>
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