Answer:
Aug. 31 Bad Debt Expense 67,820
Allowance for Doubtful Accounts 67,820
Uncollectible accounts estimate
($74,170 – $6,350).
EX 9-10 Adjustment for uncollectible accounts
Using data in Exercise 9-9, assume that the allowance for doubtful accounts for Thunderwood Industries has a credit balance of $6,350 before adjustment on August 31. Journalize the adjusting entry for uncollectible accounts as of August 31.
Answer:
Aug. 31 Bad Debt Expense 67,820
Allowance for Doubtful Accounts 67,820
Uncollectible accounts estimate
($74,170 – $6,350).
Answer:
Aug. 31 Bad Debt Expense 67,820
Allowance for Doubtful Accounts 67,820
Uncollectible accounts estimate
($74,170 – $6,350).