b. An aging of the accounts receivable indicates that $6,850 will not be collected. If an amount box does not require an entry, leave it blank.Page: 1POST.DATEDESCRIPTIONDEBITCREDITREF.881 Dec. 312c. Assume the same facts i (b), except that the balance in Allowance for Doubtful Accounts is a $420 debit before the adjustment. If an amount box does notentry, leave it blank.Page: 1POST.DATEDESCRIPTIONDEBITCREDITREF.881 Dec. 3112d. Assume the same facts as in (a), except that the balance in Allowance for Doubtful Accounts is a $350 debit before the adjustment. If an amount box does notan entry, leave it blank.Page: 1POST.DEBITCREDITDATEDESCRIPTIONREF.11 Dec. 31 The following account balances are those of Music Land Supply Company as of December 31, the end of the fiscal year, before adjustments.Accounts Receivable$ 43,600Allowance for Doubtful Accounts180 cr.Credit Sales470,000Required:Prepare the necessary adjusting entry to record Bad Debt Expense in each of the following independent cases.a. Uncollectible accounts are estimated at 1.5% of credit sales. If an amount box does not require an entry, leave it blank.Page: 1POSTADATEDESCRIPTIONDEBITCREDITREF.881 Dec. 3112b. An aging of the accounts receivable indicates that $6,850 will not be collected. If an amount box does not require an entry, leave it blank.Page: 1POST.DATEDESCRIPTIONDEBITCREDITREF.8811 Dec. 31C. Assume the same facts in (b), except that the balance in Allowance for Doubtful Accounts is a $420 debit before the adjustment. If an amount box does not requireentry, leave it blank.Page: 1ROST

As posted multiple sub parts we are answering only first three subparts kindly repost the unanswered…

Answered: The following account balances are…

Business

Accounting

The following account balances are those of Music Land Suppl- Accounts Receivahle 43 600

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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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

b. An aging of the accounts receivable indicates that $6,850 will not be collected. If an amount box does not require an entry, leave it blank.
Page: 1
POST.
DATE
DESCRIPTION
DEBIT
CREDIT
REF.
88
1 Dec. 31
2
c. Assume the same facts i (b), except that the balance in Allowance for Doubtful Accounts is a $420 debit before the adjustment. If an amount box does not
entry, leave it blank.
Page: 1
POST.
DATE
DESCRIPTION
DEBIT
CREDIT
REF.
88
1 Dec. 31
1
2
d. Assume the same facts as in (a), except that the balance in Allowance for Doubtful Accounts is a $350 debit before the adjustment. If an amount box does not
an entry, leave it blank.
Page: 1
POST.
DEBIT
CREDIT
DATE
DESCRIPTION
REF.
1
1 Dec. 31

The following account balances are those of Music Land Supply Company as of December 31, the end of the fiscal year, before adjustments.
Accounts Receivable
$ 43,600
Allowance for Doubtful Accounts
180 cr.
Credit Sales
470,000
Required:
Prepare the necessary adjusting entry to record Bad Debt Expense in each of the following independent cases.
a. Uncollectible accounts are estimated at 1.5% of credit sales. If an amount box does not require an entry, leave it blank.
Page: 1
POSTA
DATE
DESCRIPTION
DEBIT
CREDIT
REF.
88
1 Dec. 31
1
2
b. An aging of the accounts receivable indicates that $6,850 will not be collected. If an amount box does not require an entry, leave it blank.
Page: 1
POST.
DATE
DESCRIPTION
DEBIT
CREDIT
REF.
88
1
1 Dec. 31
C. Assume the same facts in (b), except that the balance in Allowance for Doubtful Accounts is a $420 debit before the adjustment. If an amount box does not require
entry, leave it blank.
Page: 1
ROST

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