Bramble Company reports the following financial information before adjustments. Dr. Cr. Accounts Receivable $168,900 Allowance for Doubtful Accounts $3,200 Sales Revenue (all on credit) 849,300 Sales Returns and Allowances 50,440 Prepare the journal entry to record bad debt expense assuming Bramble Company estimates bad debts at (a) 4% of accounts receivable and (b) 4% of accounts receivable but Allowance for Doubtful Accounts had a $1,550 debit balance. (If no entry is required, select "No Entry" for the account titles and enter O for the amts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) No. Account Titles and Explanation (a) Debit Credit (b)

Bramble Company reports the following financial information before adjustments. Dr. Cr. Accounts Receivable $168,900 Allowance for Doubtful Accounts $3,200 Sales Revenue (all on credit) 849,300 Sales Returns and Allowances 50,440 Prepare the journal entry to record bad debt expense assuming Bramble Company estimates bad debts at (a) 4% of accounts receivable and (b) 4% of accounts receivable but Allowance for Doubtful Accounts had a $1,550 debit balance. (If no entry is required, select "No Entry" for the account titles and enter O for the amts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) No. Account Titles and Explanation (a) Debit Credit (b)

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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