The accounts reciveable for burger pit in december 31 2017 was 21000 in 2018 bur

Question

The accounts reciveable for burger pit in december 31 2017 was 21000 in 2018 burger pit earned revenue of 456000 on account and collected 322000 on account north wrote off 6400 receviables as uncollectible. industry experences suggest taht uncollecetible accounts will amount to 6% of accounts receviable.


journalize

assume burger pit had a unadjusted 2500 credit balance in allowence for bad debts at december 31 2018 adust to record bad debts expense using the percent of receviables method

next

assume burger pit had a unadjsuted 1,700 debit balane in allowence for bad debts at december 31 2017 jouranlize burger pits adjustment to record bad debts expense using the percent of receivables method

Explanation / Answer

Adjusting entry :

Adjusting entry :

Date account & explanation debit credit Bad debt expense (148600*6%-2500) 6416    Allowance for doubtful accounts 6416 (To record adjustment)

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.