On January 1, 2019, the balance in Kubera Co.s Allowance for Bad Debts account was $25,160. During the year, a total of $65,700 of delinquent accounts receivable was written off as bad debts. The unadjusted balance in the Allowance for Bad Debts account at December 31, 2019, was $30,440. Required: a. What was the total amount of bad debts expense recognized during the year? (Hint. Make a T-account for the Allowance for Bad Debts account.) Answer is not complete. Bad debt expenses b. As a result of a comprehensive analysis, it is determined that the December 31, 2019, adjusted balance of Allowance for Bad Debts should be $61,600. Show the adjustment required in journal entry format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is not complete. No Event General Journal Debit Credit Bad debts expense Allowance for bad debts
On January 1, 2019, the balance in Kubera Co.s Allowance for Bad Debts account was $25,160. During the year, a total of $65,700 of delinquent accounts receivable was written off as bad debts. The unadjusted balance in the Allowance for Bad Debts account at December 31, 2019, was $30,440. Required: a. What was the total amount of bad debts expense recognized during the year? (Hint. Make a T-account for the Allowance for Bad Debts account.) Answer is not complete. Bad debt expenses b. As a result of a comprehensive analysis, it is determined that the December 31, 2019, adjusted balance of Allowance for Bad Debts should be $61,600. Show the adjustment required in journal entry format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is not complete. No Event General Journal Debit Credit Bad debts expense Allowance for bad debts
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In this similar example I am not sure where to put the numbers to make a T-account.
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