ck my work mode: This shows what is correct or incorrect for the work you have c

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ck my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate co At December 31, Folgeys Coffee Company reports the following results for its calendar year $904,000 304,000 Its year-end unadjusted trial balance includes the following items. $129,000 debit 5,400 debit Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be (a) 3% of credits 1% of total sales and (c) 6% of year-end accounts receivable No b. KPrex 5 of 11 Next >

Explanation / Answer

Journal entry :

No accounts & Explanation debit credit a Bad debt expense (304000*3%) 9120 Allowance for doubtful accounts 9120 b Bad debt expense (304000+904000)*1% 12080   Allowance for doubtful accounts 12080 c Bad debt expense (129000*6%+5400) 13140 Allowance for doubtful accounts 13140

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