vey Accunng le with Job Order Costing Helo I CALCULATOR | | PRINTER VERSION·4 BA

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vey Accunng le with Job Order Costing Helo I CALCULATOR | | PRINTER VERSION·4 BACK NEX Question2 Blossom Company has been in business several years. At the end of the current year, the unadjusted balances show: Accounts Receivable Sales Revenue Allowance for Doubtful Accounts $319,000 Dr 2,099,000 Cr. 5,880 Cr. Bad debts are estimated to be 7% of receivables. Record adjustment to Allowance for Doubtful Accounts in a tabular summary. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Assets -Liabilities + Stockholders Equity Allowance for Retained Earnings Expense Accounts Receivable doubtful accounts + Common Stock + Revenue Beg. Bal. Adj. Click if you would like to Show Work for this question: Bad debt expense Open Show Work NK TO TEXT By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor Question Attempts: 0 of 3 used SAVE FOR LATER SUBNIT ANSWER Earn Maximum Points available only if you answer this question correctly in your first ViewSonic

Explanation / Answer

Estimated uncollectible account at end = 319000*.07= 22330

Bad debt expense= 22330- 5880= 16450

Assets = Liabilities + stockholders equity Retained earning Accounts receivable - Allowance for doubtful account = + common stock + Revenue - expense Beg bal Adj 16450 16450

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