Tanning Company analyzes its receivables to estimate bad debt expense. The accounts receivable balance is $354,000 and credit sales are $1,000,000. An aging of accounts receivable shows that approximately 4% of the outstanding receivables will be uncollectible. What adjusting entry will Tanning Company make if the Allowance for Doubtful Accounts has a credit balance of $3,000 before adjustment? Oa. Bad Debt Expense 12,160 Allowance for Doubtful Accounts 12,160 Ob. Bad Debt Expense 10,160 Allowance for Doubtful ACcounts 10,160 Oc. Bad Debt Expense 10,660 Allowance for Doubtful Accounts 10,660 Od. Bad Debt Expense 11,160 Allowance for Doubtful Accounts 11,160

Tanning Company analyzes its receivables to estimate bad debt expense. The accounts receivable balance is $354,000 and credit sales are $1,000,000. An aging of accounts receivable shows that approximately 4% of the outstanding receivables will be uncollectible. What adjusting entry will Tanning Company make if the Allowance for Doubtful Accounts has a credit balance of $3,000 before adjustment? Oa. Bad Debt Expense 12,160 Allowance for Doubtful Accounts 12,160 Ob. Bad Debt Expense 10,160 Allowance for Doubtful ACcounts 10,160 Oc. Bad Debt Expense 10,660 Allowance for Doubtful Accounts 10,660 Od. Bad Debt Expense 11,160 Allowance for Doubtful Accounts 11,160

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Description: I'm not so sure about my answer please help me..... Tanning Company analyzes its receivables to estimate bad debt expense. The accounts receivable balance is $354,000 and credit sales are $1,000,000. An aging of accounts receivableshows that approxim

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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