Answer:
2014
Dec. 31 Bad Debt Expense 47,635
Allowance for Doubtful Accounts 47,635
Uncollectible accounts estimate
($44,260 + $3,375).
EX 9-12 Entry for uncollectible accounts
Using the data in Exercise 9-11, assume that the allowance for doubtful accounts for Traditional Bikes Co. had a debit balance of $3,375 as of December 31, 2014. Journalize the adjusting entry for uncollectible accounts as of December 31, 2014.
Answer:
2014
Dec. 31 Bad Debt Expense 47,635
Allowance for Doubtful Accounts 47,635
Uncollectible accounts estimate
($44,260 + $3,375).
Answer:
2014
Dec. 31 Bad Debt Expense 47,635
Allowance for Doubtful Accounts 47,635
Uncollectible accounts estimate
($44,260 + $3,375).