Required: a. What was the total of accounts written off during the first 11 months? (Hint Make a T-account for the Allowance for Bad Debts account.) Bad debts write-Off b. As the result of a comprehensive analysis, it is determined that the December 31, 2019, balance of the Allowance for Bad Debts account should be $9,365. Show the adjustment required in the journal entry format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction lies

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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CI
On January 1, 2019, the balance in Tabor Co.'s Allowance for Bad Debts account was $13,338. During the first 11 months of the year,
bad debts expense of $21,593 was recognized. The balance in the Allowance for Bad Debts account at November 30, 2019, was
$9,887.
Required:
a. What was the total of accounts written off during the first 11 months? (Hint Make a T-account for the Allowance for Bad Debts
account.)
Bad debts write-Off
b. As the result of a comprehensive analysis, it is determined that the December 31, 2019, balance of the Allowance for Bad Debts
account should be $9,365. Show the adjustment required in the journal entry format. (If no entry is required for a transaction/event,
select "No journal entry required" in the first account field.)
View transaction list
Journal entry worksheet
Record the entry to adjust the allowance account to the appropriate balance.
Note: Enter debits before credits.
Event
General Journal
Debit
Credit
1
Transcribed Image Text:CI On January 1, 2019, the balance in Tabor Co.'s Allowance for Bad Debts account was $13,338. During the first 11 months of the year, bad debts expense of $21,593 was recognized. The balance in the Allowance for Bad Debts account at November 30, 2019, was $9,887. Required: a. What was the total of accounts written off during the first 11 months? (Hint Make a T-account for the Allowance for Bad Debts account.) Bad debts write-Off b. As the result of a comprehensive analysis, it is determined that the December 31, 2019, balance of the Allowance for Bad Debts account should be $9,365. Show the adjustment required in the journal entry format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the entry to adjust the allowance account to the appropriate balance. Note: Enter debits before credits. Event General Journal Debit Credit 1
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